Russia recovers from economic recession

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Russia recovers from economic recession

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11 March 2021

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Moscow, Mar 11 (Prensa Latina) Timely measures allowed Russia to overcome the recession and achieve economic recovery, Russian President Vladimir Putin stressed at the beginning of a meeting to encourage investments in the country on Thursday.

'Thanks to timely and calculated measures to support industries and companies, we have generally managed to overcome the slowdown in the economy and reach its recovery,' the head of state assured.

According to Putin, this achievement, reported in the midst of the global crisis caused by the Covid-19 pandemic, is reflected in the dynamics of domestic demand and the gradual decrease in the unemployment rate.

He recalled that during the crisis, Russian authorities decided to support work teams, companies, businesses and all those who kept working and invested in development, TASS news agency reported.

The president expressed his conviction that Russia managed to reduce the risk of investing in its economy.

'Thanks to a focused economic policy, we succeeded in avoiding the failure of investment activity. The risks of investing in the Russian economy have seriously decreased,' he stressed.

The president warned that the decline in Russia's Gross Domestic Product (GDP) in late 2020 was 3.1 percent, so, he said, 'recession was smaller than in many other countries of the world.'