The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.
Net capital outflow from Russia by the private sector by the end of 2020 increased 2.2 times compared to the same period last year and amounted to $47.8 billion.
The fall in Russia's GDP in Q3 2020 was not 3.6%, but 3.4%. Rosstat improved its assessment of the
state of the economy after clarifying the reporting of enterprises and the assessment of the banking
sector from the Bank of Russia.
The most popular investment instruments for Russian citizens are savings accounts in banks, foreign
currency, real estate, life insurance and cryptocurrencies.
The real disposable income of Russians in the third quarter fell by almost 5% after a record drop of
8.4% in the second, Rosstat reported.
In September 2020, the monthly increase in consumer prices (as estimated seasonally adjusted) decreased to 0.25% compared to 0.38% in August, according to the next release of the information and analytical commentary “Dynamics of consumer prices”.