Central Bank assesses possibility of returning the economy to pre-crisis levels

The recovery of the national economy is expected to be gradual as the lockdown shock decreases, the Central Bank reports.

However, the return to pre-crisis levels will be more prolonged due to relatively low income growth of the population, as well as more cautious decision-making by economic agents.

After the gradual recovery of economic activity in May-June, there has been reported a slight decline in indicators in July-August.

Growth in construction activity slowed from 107.3% in January-June to 105.7%. The cumulative number of all transactions through the banking payment system declined by 8% and 9% in July and August respectively (compared to June).

Despite the lockdown in August, there was a slight recovery in the volume of cash in trade and paid services. Cash receipts increased by 6% in August, reaching last year’s levels.