The recovery of the Russian economy after the pandemic will end

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According to the senior managing director of the NKR rating agency Alexander Proklov, the bottom of the “covid” economic recession in Russia was passed back in 2020.

“At present, the country’s economy is in a phase of recovery, which generally corresponds to the global dynamics. How significant this rise will turn out to be largely dependent on the end of the pandemic and the lifting of quarantine in the economies of the countries-key trading partners of Russia, especially in the European Union, ”he said.

According to the expert, as borders open, world trade and tourist flows are restored, the Russian economy will receive an additional impetus.

“The recovery will be flatter and will be completed in 2022. For 2021, our forecast remains the same – an increase of 2.5% -2.7% compared to 2020, ”he said.

As previously reported, for example, the suspension of flights due to the coronavirus cost the industry about 200-250 billion rubles. The closure of all restaurants, cafes and non-grocery stores due to the pandemic led to losses of 65 billion rubles.

According to Oleg Voitsekhovsky, Managing Director of the Russian Council of Shopping Centers, the shopping center industry as a whole lost 50% (more than RUB 300 billion) of rental income compared to 2019. During the lockdown period, shopping centers in some regions have lost 80 to 100% of rental income, the expert said.

Read more in the exclusive material from Izvestia:

Withstood measures: how Russians survived the year of the pandemic