16.Jun .2021 00:00

Russia’s Economy Hits Pre-Coronavirus Size – Central Bank

Russia’s Economy Hits Pre-Coronavirus Size – Central Bank
views 139
Back

Russia’s economy has become one of the first in the world to reach its pre-coronavirus size, Russia’s Central Bank governor said. 
 
The Russian economy had regained all its losses since the start of the coronavirus pandemic last spring, says Elvira Nabiullina, Governor of the Central Bank of Russia, in a speech to lawmakers, The Moscow Times reports. 
 
“The economy has recovered to its pre-crisis level, and in many industries it has exceeded it and continues to grow,” she said.

Russia’s economy contracted by 3% in 2020 — knocked by a six-week nationwide lockdown, prolonged closures of service industries and cuts in oil production in a bid to stabilize prices.