The Russian economy in June 2021 exceeded the dock level recorded in the fourth quarter of 2019. This was announced on Wednesday, July 28, by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov, speaking at the international economic summit “Russia – Islamic World: KazanSummit 2021”.
“The latest statistics show that in June the Russian economy exceeded the dock level – the level of the 4th quarter of 2019, plus 0.1% was fixed to the peak that was before the pandemic. Moreover, the pace of recovery is good, economic growth is taking place in the overwhelming number of spheres, “Reshetnikov said.
The head of the Ministry of Economic Development added that the current economic situation is encouraging.
“Economic growth is ahead of us, and we have improved our estimates of economic growth for the year, and now we will conduct further analysis. The current situation is quite encouraging, “Reshetnikov concluded. added the head of the Ministry of Economic Development.
On July 23, representatives of the Bank of Russia announced that the key rate would be raised by 100 bp at once. up to 6.5%, due to the return of the Russian economy to the pre-pandemic level.
On July 19, Russian President Vladimir Putin stressed that the Russian economy has recovered to almost pre-crisis levels. He also clarified that the preservation of macroeconomic indicators is the foundation for solving other problems, including when planning additional expenses and their compliance with income in the near future.
On July 14, analysts from the Central Bank of Russia reported that the Russian economy had reached pre-pandemic levels in the second quarter of this year. The ministry clarified that in May-June, the country’s economy continued to grow, including due to a rapid increase in lending, and operational indicators for June generally indicate a stabilization of growth or a slight slowdown in comparison with the rates of April and May.
On June 29, Russian Finance Minister Anton Siluanov said that Russian economic policy must adapt to the consequences of the coronavirus pandemic and achieve long-term sustainable growth.