Real incomes of the population will

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The current economic crisis is causing businesses to suffer losses that threaten the viability of many companies.

Economists at the VEB.RF Research and Expertise iceland telegram database Institute suggest that the peak of cases caused by COVID-19 will occur at the end of April. This means that the lifting of the self-isolation regime in Moscow and St. Petersburg will not occur until mid-June. In other cities, an earlier end to the isolation regime is possible, which will depend on the epidemiological situation in a particular region, but it is unlikely to happen before mid-May.

If this assumption is justified, the damage from the measures taken will be localized in the second quarter of the year. The economy will shrink by 18%, GDP losses will amount to 3.4 trillion rubles,fall by 17.5% and there will be a short-term jump in unemployment from 4.5 to 10%.