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Kremlin hopes economic situation in Russia in 2021 will be better than 2020

According to the National Credit Ratings agency, transition in Russia to a strategy to reduce the budget deficit in 2021 could lead to a delay in the recovery of the national economy

MOSCOW, December 8. /TASS/. Russia will not be able to completely free itself from the negative impact of the global crisis, but the country's authorities expect that in 2021 it will be possible to avoid a decline in the national economy similar to the current one, presidential spokesman Dmitry Peskov told reporters.

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Kremlin says macroeconomic environment in Russia stable despite depreciation of ruble

According to analytical commentary by the National Credit Ratings (NCR) agency, published on Tuesday, transition in Russia to a strategy to reduce the budget deficit in 2021 could lead to a delay in the recovery of the national economy. Commenting on this data, Peskov noted that the Russian government has different forecasts.

"Of course, unfortunately, we will not be able to free ourselves from the negative impact of the global crisis, but in general there are expectations that next year the decline will not be the same as this year," Peskov said. "Although this [year], we have managed to minimize it, and in general we passed [the pandemic] with the least negative effect compared to a number of other countries," he added.

According to him, "the current level of [government] debt and reserves is just one of the factors that ensure macroeconomic stability."

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