The Russian economy has shown the fastest growth since 2000 after the restrictions related to the coronavirus pandemic were lifted in the country.

Therefore, the country’s gross domestic product (GDP) increased by 10.3 percent in the second quarter. Additionally, retail trade, passenger transportation and manufacturing grew. According to economist Scott Johnson, the Russian economy has returned to its previous indicators “much faster than expected.” Meanwhile, he noted that in the third quarter the increase in GDP will decline, inasmuch as the effect of the lifting of quarantine restrictions will come to naught.

In turn, Morgan Stanley has adjusted its forecast for GDP growth in Russia “taking into account the unexpectedly positive data and a more constructive forecast for oil prices.” It is expected to be 4.6 percent in 2021 and 3.2 percent in 2022.