KAZAN, April 25. /TASS/. Russia’s GDP can contract by 12% if current conditions remain, Chairman of the Supervisory Board of the Moscow Exchange Oleg Vyugin said at the Made in Kazan forum on Monday.
"The meltdown [of the Russian economy] - no, certainly this is impossible," Vyugin said. "Resources are in place. There is simply a problem that the level of life, the level of production output, the gross domestic product we had, it will contract if nothing changes. Accordingly, the quality of life will go down," he noted.
GDP can drop by about 10-12% in 2022 in the recent environment, the expert said. "As regards the next year, this is a totally open question," he said. "If there is further buildup of this economic confrontation, if radical steps are taken by external trading partners, then it may be so that the second inflation wave may occur along with the one more round of economic downturn. It is difficult to assess it," Vyugin added.