Yuriy Korsun ‘The Significance of Roscongress Foundation Forums’

The publication by the Bank of Russia studies main risks of the global economy and global financial markets and channels of the impact of the coronavirus pandemic on the Russian economy and the financial sector.

This Diagnostic Overview was prepared by the members of the working group on responsible financing under the Expert Council on the long-term investment market under the Central Bank of the Russian Federation. The Diagnostic Overview contains an analysis of green trends in the global economy, prerequisites for the creation of a green finance market in Russia, and the institutional and legal basis for its formation and development.

Global growth is projected at — 4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast.

The Bank of Russia has published an analytical note about the risks posed by a massive increase in housing construction and an accelerated transition to loan financing in the construction sector. The publication looks at potential problems from the viewpoint of construction companies, banks, and customers.