Analytical Center for the Government of the Russian Federation

Komsomolskaya Pravda
Leonid Grigoryev
Chief Adviser to the Head of the Analytical Center
Leonid Grigoryev

Russia may regain pre-crisis level faster than most countries

Bloomberg predicts a 3% economic growth in Russia in 2021. Chief advisor to the Analytical Center head Leonid Grigoryev has told the Komsomolskaya Pravda radio why the outlook is so optimistic and how our country has been coping with the crisis.

Not just Bloomberg but also the IMF and other agencies have a favorable outlook for Russia. “Obviously our dynamics was positive in fall. The whole world is watching us. Every report says that November was not so bad for the Russians. Both Bloomberg and every other agency have a rather positive outlook for Russia,” Grigoryev said.

The expert explained the state of affairs with the fact that Russia had not been hurt as badly as countries with numerous tourist arrivals. Besides, good groundwork was laid in the beginning of the year, he said. “We had a very good first quarter of 2020. The growth was normal. If not for coronavirus, we might have shown a sizable growth this year,” the expert said.

The global economic contraction was hard and unprecedented in 2020, Grigoryev said. Everyone will be struggling to recover from the crisis. “There will be growth. But if we forget for a second about China, which holds a special place, the rest of the world  will regain the 2019 level only in 2022,” the expert said. “We can enter 2021 and grow by the end of the year in order to regain the 2019 level. But the world will not recover until 2022,” he said. However, Russia is still in crisis, Grigoryev said. “No one says we are out. It would be too much to say that everything will be perfect in 2021, although this is my New Year wish for everyone,” he said.