Search and Hit Enter

Presidential aid sees signs of recovery in Russian economy

Retail sales in Russia are recovering, which is a sign of growing activity in the country’s economy compared to April, Presidential aide Maxim Oreshkin said at the Startup Village online conference.

“In early April, when the de facto we had the peak in terms of people’s behavior and the restrictions imposed by the state, our retail sales nosedived by 60% compared to February of this year. Now, here are the latest data, we have already reached the mark of 90%. That means that our economy has already compensated three-quarters of our retail sales losses,” Oreshkin said.

He called it a good indicator in terms of economic activities.

“This trend is positive, and, in our opinion, it is important to maintain this trend in order to make the way out of the situation be quick and least problematic as possible,” he said.

Source: TASS