RUSSIAN ECONOMY COULD BENEFIT UPTO 30 BILLION THIS YEAR

  • 23/10/2020

Russia’s economy could benefit by up to $30 billion this year from Russians spending their roubles at home rather than on international holidays, economists say.The estimates are a rare piece of good news for an economy battered by low global oil prices as well as coronavirus lockdowns. Russia ran a budget deficit of about $23 billion in the first nine months of this year.
As in many other countries, foreign tourists stayed away in droves in 2020. But far fewer Russians travelled overseas than usual, because the country closed its borders in March. The outflow in some cases fell by as much as 80 per cent.

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