Faced with the challenges of the coronavirus infection, the restrictions required and forced in this regard, both in the economy and in the social sphere, Russia turned out to be more mobilized and prepared for these shocks than many other developed economies, declared the president in his annual press conference.

Putin highlighted that Russia is among the top five or 10 economies on the planet and mentioned that the rate of decline was 3.0 percent, much lower than in many of the world’s major economies.

He stressed that Russia recovered from the consequences of the disease much faster than other countries.

The head of state indicated that the country’s international reserves increased and their volume is 625,500 million dollars, while the National Welfare Fund also grew to 185,200 million dollars. The macroeconomic situation in Russia is stable and good, he also said.

The President added that the unemployment rate fell below pre-pandemic levels to 4.3 percent, but could rise to 4.4 percent by the end of the year.

In Putin’s words, this is a very good indicator of the work of the economy as a whole, although he recognized that there are certain complexities and difficulties related to the labor market.

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