“We have not reached the bottom”. Former Russian Deputy Prime Minister said that the most difficult period of the crisis in Russia is just beginning

In Russia only begins the most difficult period of the crisis caused by the spread of COVID-19. This was during the international industrial marathon “Innoprom online” on 7 July, said the Chairman of the SKOLKOVO Foundation, a former Deputy Prime Minister of Russia economist Arkady Dvorkovich, reports TASS.

According to him, the optimists believe that Russia is now at the lowest point, while Europe is coming out of the crisis. He Dvorkovich thinks that Russia “has not yet reached the bottom.”

Hardest thing to have for small and medium businesses, predicts former Deputy Prime Minister. By the end of summer and fall, these companies will gradually begin to close; however, large firms in the same period will be to increase production, but are still very far from pre-crisis levels, said the head of the Fund “SKOLKOVO”.

According to him, the government will have to “choose priorities”.

In may, analysts from Bloomberg predicted that the fall of Russia’s GDP in the second quarter of 2020 is 16%, what will be the worst quarterly figure since the early 1990s, the Russian Government predicted economic growth in 2020, reminded the Agency. In the first quarter increase in GDP was 1.6%.

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