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loosen the purse strings in order to boost activity. President Putin has already announced payments for families with young children worth 0.4% of GDP and spending on the president’s National Projects is likely to be stepped up.
Opinion is divided on what affect spending will have on growth. The official forecast is modest but analysts are generally more optimistic than the government: Capital Economics is predicting 1.8% growth in 2020, which Renaissance Capital say 2.6%. The spread is large.
21​ RUSSIA Country Report​ February 2020 ​ ​www.intellinews.com