NOVO-OGARYOVO, September 10. /TASS/. Russia’s economy started gradually emerging from the pandemic-related restrictions in June, President Vladimir Putin said at a meeting focused on economic issues on Thursday, adding though that the recovery of business activity is uneven so far.
"Many specialists and experts say today that the most acute phase of the crisis has passed. Indeed, economic recovery started in June in Russia, though the recovery of business activity is uneven so far, that is true," he said.
Consumption is on the rise in Russia, Putin said, adding that "such important indicators as electricity consumption and railway cargo transportation volume are gradually returning to last year’s level." Nevertheless, "much is to be done to reach the sustainable growth trajectory," he noted.
Economic recession due to the coronavirus pandemic turned out not so deep in Russia as in other leading countries, the president stated.
Like the whole world, Russia has faced difficulties related to the coronavirus pandemic this year as whole economic areas were forcedly halted, including services, trade, construction, certain manufacture fields, he said.
"I should note in this respect that economic recession, GDP contraction in Russia was not so deep as in other leading countries," Putin said. GDP contraction in Russia amounted to 8.5% in the second quarter of 2020, whereas in the US and the eurozone it totaled 9.5% and 15%, respectively, he emphasized.