Minister of Economic Development: Drought and coronavirus pandemic affected GDP decline in 2020

03/27/21 12:29

Minister of Economic Development: Drought and coronavirus pandemic affected GDP decline in 2020

According to Sergey Obolonik, negative weather conditions affected the agriculture resulting quality, where a fall of more than 40% was noted

Tiraspol, March 27. /Novosti Pridnestrovya/. The Deputy Prime Minister – the Minister of Economic Development Sergey Obolonik at the annual reporting delegacy presented the results of the department’s activities over the past year. He paid attention to the macroeconomic indicators of the year of 2020, which were formed in difficult conditions during coronavirus infection’s spreading, as well as the restrictive measures’ introduction both within the country and abroad, disruption of production’s line, the suspension of enterprises’ activity, the enforced self-isolation and a decreasing in consumption, as well as anomalously weather conditions.

Experts are noting a decline in economic effectiveness, taking into account the past period realities. According to preliminary estimates, the gross domestic product at the end of 2020, reached about 13.2 billion rubles, having decreased to the level of 2019 by 9.6% in nominal and by 13.5% in real terms, the government press service reported.

Such affairs position is directly related to prolonged drought, as well as late frosts. The productivity of agriculture, where a fall of more than 40% was noted, was negatively affected by weather conditions.

At the end of the year the industrial output was almost at the level of 2019 in the amount of 13 billion rubles. The critical role in these results’ formation was played by the electric-power engineering, where an increase of 7.2% was noted, as well as ferrous metallurgy with an increasing of more than 6%. The decline of 5-10% was showed the overwhelming majority of industries.

Global-commons quarantine restrictions have inevitably led to both exports and imports’ reduction. Over the past year, in Pridnestrovie, the volume of exports decreased by 3.7%, imports – by 12.9%. The total foreign trade turnover decreased by 9.7%, to 1 billion 686 million dollars.

The downward trend was fixed in the export structure. It was based on metals as well as fuel and energy products supplies, which showed an increasing of 8.3% and 10.4%, respectively.

As pertains imports, there the fuel and energy products’ value decreased by 30.4%. A slight increase in the import of metals by 6.1% as well as food products by 1.1% was noted.

 

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