President Vladimir Putin announced that the Russian economy is emerging from a difficult situation amid the coronavirus pandemic. Russia is managing to overcome the difficulties that the world faced last year, the president said.
“I would like to say that the current work continues, despite any difficulties, including those associated with the coronavirus epidemic. The best confirmation of this is the results of the work of the Russian economy as a whole, I will talk about this tomorrow at the forum, but you know this better than anyone else, you feel it all in the course of practical work on a daily basis, ”Mr. Putin addressed the participants the ceremony of signing investment agreements at the St. Petersburg International Economic Forum (SPIEF). The President participated in the event via videoconference; he will participate in SPIEF events on June 4 in person.
“I would like to say that it is largely thanks to you and your colleagues that Russia has been able to overcome the difficulties that the whole world faced over the past year, and our economy is getting out of the difficult situation in which we all found ourselves,” said Vladimir Putin. He expressed the hope that “we will not only come out confidently out of the difficult situation in which the whole world and the economy of the Russian Federation have found themselves”. The President announced the prospect of reaching new frontiers.
Earlier, the Organization for Economic Cooperation and Development (OECD) reported that the world economy is recovering from the coronavirus pandemic, but this is happening unevenly. The OECD expects “global output will grow by almost 6% this year, an impressive surge after a 31.2% contraction in 2020.” The OECD also improved its forecast for Russia’s GDP growth in 2021 from 2.8% to 3.5%. In 2022, the Russian economy is expected to grow by 2.8%; in 2020, the decline was 2.6%.