Belousov: Russia’s economic recovery is two months faster than forecasts

The recovery of the Russian economy is now ahead of forecasts by about two months, said First Deputy Prime Minister Andrei Belousov.

“We are doing better now, approximately ahead of schedule – generally speaking, there are some problems there – but this way we are ahead of the indicators by about two months. We are ahead of the trajectory, “said Mr. Belousov during the St. Petersburg International Economic Forum (SPIEF) (quoted by Interfax). As part of the SPIEF, the First Deputy Prime Minister in the format of an interactive lecture told the participants of the International Youth Economic Forum about the chronology of the government’s measures to overcome the crisis associated with the coronavirus pandemic.

On Friday, June 4, during the SPIEF, the head of the Ministry of Economy Maxim Reshetnikov said that Russia’s GDP growth in April was 10.7% in annual terms. The day before, Mr. Reshetnikov said that he expects the Russian economy to recover to the level of the fourth quarter of 2019 in June-July 2021. According to him, when compared with the average for 2019, “by and large” the economy recovered already in April.

Read about the discussion of the prospects for the Russian economy in the publication of Kommersant, “Aligning to the Left”.