Economy on the rebound since June, though recovery of business activity uneven, says Putin

Economy on the rebound since June, though recovery of business activity uneven, says Putin

Russia’s economy started gradually emerging from the pandemic-related restrictions in June, President Vladimir Putin said at a meeting focused on economic issues on Thursday, adding though that the recovery of business activity is uneven so far, TASS reports.

"Many specialists and experts say today that the most acute phase of the crisis has passed. Indeed, economic recovery started in June in Russia, though the recovery of business activity is uneven so far, that is true," he said.

Consumption is on the rise in Russia, Putin said, adding that "such important indicators as electricity consumption and railway cargo transportation volume are gradually returning to last year’s level." Nevertheless, "much is to be done to reach the sustainable growth trajectory," he noted.

Economic recession due to the coronavirus pandemic turned out not so deep in Russia as in other leading countries, the president stated.

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