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Russian economy edges into recovery phase

Thursday, May 20, 2021

Significance

Positive signs are still thin on the ground, but a modest recovery in demand is apparent. Oil export figures are less bad than they could have been, and natural gas sales are booming.

Impacts

  • Another pandemic surge could dampen recovery but is unlikely to lead to a national lockdown.
  • The authorities are planning tax incentives and improved access to credit and public procurement for small and medium-sized firms.
  • A new national project will channel public funds into domestic tourism infrastructure.

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