The recession in the Russian economy is over. According to experts, this is evidenced by the growth of the main macro indicators for two quarters in a row at the end of 2020.

In the third and fourth quarters of 2020, GDP grew quarter-on-quarter by 4.2 and 1.7 percent, accordingly. Analysts also concluded that the coronavirus pandemic provided opportunities for the development of industries producing goods and services that are in demand in conditions of self-isolation and restrictions.

Earlier, experts mentioned that Russia for the first time in the 30-year post-Soviet period went through the crisis better than the rest of the world as a whole. While the global economy fell by an average of 3.5 percent in 2020 as a result of the coronavirus pandemic, Russia’s GDP contracted 3.1 percent at the same time, which is less than forecast.