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Higher School of Economics’ experts announce end of recession in Russian economy

Growth of GDP and investments was reported in Q3 and Q4 2020, according to the research

© Sergei Bobylyov/TASS

MOSCOW, March 15. /TASS/. The Russian economic recession has ended, according to the Higher School of Economics (HSE).

"The growth of main macroeconomic indicators during two consecutive quarters at the end of 2020 technically makes it safe to say that the recession in Russia ended as early as by the beginning of 2021," according to the bulletin dubbed ‘Commentary on state and business’ provided by HSE.

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Growth of GDP and investments was reported in Q3 and Q4 2020, the research said. During that period GDP growth amounted to 4.2% and 1.7% quarter-on-quarter, whereas fixed investment grew by 1.2% and 0.4%, respectively, experts said.

The coronavirus pandemic provided opportunities for growth of sectors that produce demanded amid lockdown and high infection probability goods and services, the bulletin said. Moreover, the export-oriented agriculture sectors enjoyed the possibility of external expansion growth amid the weakening exchange rate of the ruble and food deficit that emerged in a number of countries in 2020.

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