Bloomberg expert ecaluates pace of economic recovery in Russia after COVID pandemic

In the fourth quarter of 2020, the Russian economy continued to recover from the recession caused by the coronavirus pandemic. Such conclusions were made by an expert of the Bloomberg agency.

“The Russian economy continued to recover in the fourth quarter from the pandemic-induced recession, as President Vladimir Putin refused to introduce a second lockdown”, – the agency writes.

Referring to Rosstat data, Bloomberg noted that Russia’s GDP contraction in the fourth quarter of last year was 1.8% instead of 2.2% predicted by experts. It is also emphasized that over the past year, Russia’s GDP has decreased much less than in a number of other countries.

“The virus is still dangerous. There is still a long way to go back to normal, but production may return to pre-pandemic highs in the fourth quarter”, – said economic expert Scott Johnson.

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