The Russian Ministry of Economic Development and Trade has raised its forecast for the growth of the country’s economy in 2021, despite new administrative restrictions on business activity due to the third wave of the pandemic.
The ministry now expects the country’s gross domestic product (GDP) this year to be 3.8% instead of the previously expected 2.9%.“The old scenario conditions were formed in March based on the data for January-February. Now the data for April-May [shows] the economy is recovering faster than we expected […] We expect to reach the pre-crisis level this month,” a representative of the ministry told reporters …
