In the context of a global pandemic, Russia is one of the few countries that is returning to growth. The fiscal and monetary support measures, combined with regulatory easing, have supported the industry by avoiding massive unemployment and, from the second half of 2020, creating new jobs. The government, today, is committed not so much to compensate for the decline in income, but to relaunch development to satisfy the vast internal market and seize new export opportunities. Contrary to forecasts, in fact, the Russian economy in 2020 suffered a smaller contraction than in 2009, when it was affected by the effects of the global financial crisis. According to Rosstat's estimates, GDP decreased by 3.1% (in 2009: -7.8%), and manufacturing companies, oriented towards the domestic market, recorded an added value at constant prices equal to 2019. increase in public spending forced the government to temporarily mitigate the strict budget criteria, which from 2011 to 2019 had not registered any deficit: the 2020 deficit, on the other hand, was equal to 4.4% of GDP, but it is expected that is reduced to 1% in 2022 (2.4% in 2021). Russian banks, while facing the inevitable growth of bad loans, have maintained capital and profitability: compared to 2019, their profit has decreased by only 7% and the sustainability of the system has been facilitated by the actions of the Bank of Russia, which before pandemic has begun to cleanse the sector of troubled financial organizations. Having become one of the distribution channels for state incentives, banks have not only not reduced credit, but have doubled it compared to 2019. Although investments fell by more than 4%, around 150 new factories and medium and large production units were put into operation in 2020. About one third in mechanics and metalworking, one fifth in the chemical industry, one tenth in electronics. The main market for the new units is the domestic one, but several investors are looking to export.

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