The Russian economy, which suffered significantly less than others during the pandemic, is recovering from the coronavirus recession. This is reported by Bloomberg.
The agency notes that the economic recovery is associated with the decision of the Russian authorities not to reintroduce a nationwide quarantine. It is also emphasized that the relatively soft restrictions during the pandemic contributed to the fact that the epidemic did not hit Russia’s GDP so hard.
Economics expert Scott Johnson, in turn, said that the recovery of the Russian economy after a surprisingly small drop in 2020 is gaining momentum. The specialist explained that it is being fueled by a slowdown in the pandemic, progress in vaccinations and high oil prices. According to him, the country’s GDP may return to pre-crisis indicators by the fourth quarter of 2021.
Earlier it was reported that, according to the new forecast of the international insurance company Euler Hermes, the Russian economy will grow by 2.5 percent in 2021 and 3 percent in 2022. Back in December, experts believed that this year GDP will increase by 2.2 percent and by 2.5 percent next year.
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source https://pledgetimes.com/bloomberg-assessed-the-pace-of-economic-recovery-in-russia/
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