Russia’s Economic Development Minister Says The Economy Has Begun To Recover

Russian Minister of Economic Development Andrei Reshetnikov said at the iVolga Forum that Russia’s economy has entered the stage of recovery and the Ministry of Economic development is preparing to re-forecast the social and economic development situation. The preparation of the forecast has been completed. And the Russian Economic development Ministry believes that the current economic situation in Russia has improved, and the economy will recover at a faster pace.

Recently, the ministry currently forecasts Russia’s GDP fell by 4.8% in 2020, but Mr Reshetnikov had previously said the ministry would approve macroeconomic forecasts in August. According to preliminary data from the Russian Statistics Bureau, Russia’s GDP fell by 3.6% in the first half of this year