Russian economy continues to rebound with huge surge in May — RT Business News

Russia’s gross home product (GDP) expanded 10.7% year-on-year in April, in accordance to the Ministry of Economic Development, which projected an “anomalously high” GDP progress for May.

Although the economy is recovering sooner than anticipated, it makes extra sense to examine its tempo with the 2019 stage, Minister of Economic Development Maxim Reshetnikov informed newspaper Izvestia. The ministry forecasts a 2.9% financial progress for this 12 months.

“It is quite natural that GDP data for May will be abnormally high when compared to May 2020 when the restrictions were still quite tough,” Reshetnikov mentioned, including that “The economy is recovering better than expected, showing stability.”

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Such optimistic dynamics needs to be supported by “systemic changes and new investment projects,” the minister added. He identified that the most important threat issue for the Russian economy is the state of the world economy, which these days has been topic to fluctuations.

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