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Coronavirus containment to weaken consumer activity

Unprecedented measures to curb the spread of coronavirus along with a drop in external demand and commodity prices will lead to a significant weakening of consumer and investment activity. Outlook of the Eurasian Development Bank says.

The EDB member countries are actively working to mitigate the negative economic consequences of the pandemic. A plan of priority measures is being implemented in Russia to ensure sustainable development of the economy amid worsening of the situation due to the spread of novel coronavirus infection. Large-scale measures to support the economy were announced in Kazakhstan. Measures to support entrepreneurship were approved in Kyrgyzstan. A set of anti-crisis measures is being developed in Belarus.

«Central / national banks take an active position in limiting the negative impact of the coronavirus pandemic on the economies of the EDB member countries. Monetary regulators are focusing their efforts on ensuring financial and price stability, including on maintaining the liquidity of the banking sector and its ability to provide borrowed funds to business entities. Actions of the authorities will certainly support economic activity in the EDB member states. Further development of the economic situation in the world and countries of the region is subject to high uncertainty due to rapidly changing conditions,» the outlook says.