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Ministry of economic development of the Russian Federation

Russian economy remains stable, despite pandemic, says PM

23.07.2020

The Russian economy despite the pandemic remains stable, there are enough funds for the implementation of national development goals, said Russian Prime Minister Mikhail Mishustin in an interview with the Rossiya-24 TV channel on Thursday.

"The pandemic actually slowed down the rate of economic growth, actually reduced revenues at all levels of the budget and caused significant damage to a large number of people and companies, organizations. I want to assure everyone that the macroeconomic stability, revenues that were collected before all levels of the Russian budget, allow us to feel very comfortable and stable," Mishustin said.

He added that "there is no need to worry here, there are sufficient funds to ensure all strategic national goals and national projects."

Mishustin noted that the volume of the National Welfare Fund "by the end of the year will definitely not be less than 8 trillion rubles." "Our gold and foreign exchange reserves are stable, and today it is about more than $ 570 bln," he added.

Mishustin also pointed out that all measures taken by the Russian authorities in the context of the crisis caused by the pandemic were very clear and gave their results. "We supported the demand and supported people who were left in difficult life situations. And of course, we supported our companies with a large number of measures that were presented nationwide," he added.

Source: TASS



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