MOSCOW, January 14. /TASS/. Russia’s economy is recovering gradually after contraction amid the pandemic, Prime Minister Mikhail Mishustin said in a video address to participants of the Gaidar Forum that started on Thursday, adding that the authorities expect sustainable growth of the economy as early as by the end of 2021.

The response of the Russian economy to the pandemic-related challenges was much more tepid than that of a whole number of economies in 2020, he noted.

"After contraction in the second quarter it is recovering gradually, and we plan to be positive and reach sustainable growth by the end of this year," PM said.

Russia’s Economic Development Ministry projects 2020 GDP contraction of 3.8%.

The Gaidar Forum in an annual international research and practical conference in the economic field that has been held since 2010. It brings together renowned experts, government representatives, public and political figures, and business leaders from different countries. The event is traditionally co-organized by the Russian Presidential Academy of National Economy and Public Administration, the Gaidar Institute for Economic Policy, and the Association of Innovative Regions of Russia (AIRR). TASS is a general information partner of the forum.