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Coronavirus pandemic

Moscow's economy may start recovering from pandemic in few months, says mayor

According to him, small and medium business in Moscow is developing very actively

© Dmitry Astakhov/POOL/TASS

MOSCOW, October 16. /TASS/. The main goal of the Moscow authorities at the moment is to prevent the closure of business, the economy may begin to recover in a few months with the end of the coronavirus pandemic, Mayor of the capital Sergey Sobyanin said in an interview with TASS on Friday.

"I am sure that within a few months we will end this story with the pandemic and will simply continue to grow. All the sectors (of the economy affected during the pandemic - TASS) will recover. They have to recover. For our part, we will do everything possible to help. Today our main help is to prevent a lockout and business closure," Sobyanin said.

According to him, small and medium business in Moscow is developing very actively. And today a significant part of Moscow residents works in small businesses. About 23-24% of Moscow's revenue during this period belongs to SMEs. The Moscow authorities have developed a whole program, together with the federal one, to support small businesses, defer loans, subsidize loans, and so on.

He noted that even during the months that have passed since the spring's tough restrictive measures, the business has been recovering very quickly. In general, the volume of trade today is at the level of last year. Public catering has not yet fully recovered, but by about 80%.

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