17:00 - 28.02.2022

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February 28, Fineko/abc.az. The Russian economy may fall by 20% in the 2nd quarter of this year due to the sanctions imposed against it, and by 3.5% over the year of their operation.

Reuters reports that such a forecast was made by analysts of American bank JPMorgan.

"If those new sanctions are really implemented, it will affect the Russian economy," wrote Jahangir Aziz, the head of Emerging Markets Economics Research & Commodities at JPMorgan.

He added that the two pillars of the Russian economy, even under conditions of slowing growth, increasing inflation and high interest rates, were the "fortress" of the foreign exchange reserves of the Central Bank of Russia and the current account surplus. Now they are gone.

It is noted that inflation in Russia is expected to reach 10%.