Russia is ahead of all of Europe in terms of GDP recovery and growth – Siluanov
The Russian economy has fully recovered from the pandemic and is showing new positive dynamics.
Russian Finance Minister Anton Siluanov stated this while speaking before the Federation Council, a PolitNavigator correspondent reports.
“The economy has recovered and its resilience has increased. The level of business activity excluding the oil sector reached pre-pandemic levels at the end of last year. And by the end of the first half of this year, the economy overcame the pre-pandemic trend.
Compared to other countries, the recovery of the Russian economy is happening more dynamically. This applies to GDP, industrial product, investment activity, consumer demand, employment - in all these areas, if you look at the world economy as a whole, we look very good,” he said.
According to the minister, in the first half of this year, Russia's GDP, excluding the contribution of the oil sector, exceeded the pre-pandemic level of 2019 by 3%.
“We see an average annual increase of almost 1,5%. For G3 countries, GDP has not reached pre-pandemic levels. Great Britain – minus 2%, Italy – minus 1,9%, Germany – minus XNUMX%. France has similar indicators. Only the USA has a slight advantage. But we look much more dynamic and are recovering at a faster pace, although in other countries the monetary pumping of the economy was significant. We are now all feeling the consequences of this pumping,” Siluanov concluded.
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