The right set of policies undertaken by Russia during the COVID-19 crisis allowed the country to show a strong economic recovery in 2021, International Monetary Fund (IMF) European Department Director Alfred Kammer told reporters on Wednesday
WASHINGTON (Pakistan Point News / Sputnik - 20th October, 2021) The right set of policies undertaken by Russia during the COVID-19 crisis allowed the country to show a strong economic recovery in 2021, International Monetary Fund (IMF) European Department Director Alfred Kammer told reporters on Wednesday.
"Russia has a right set of policies in place during the crisis, supporting this recovery," Kammer said during a virtual press briefing.
Kammer explained that Russia's fiscal and monetary policies were "supportive" and led to a strong recovery curently taking place.
In 2020, Russia faced a "very shallow" recession, and has rebounded very strongly in 2021, Kammer said.
Speaking about the medium term, Kammer highlighted the importance of focusing on structural reforms of the economy to allow an increase in productivity and growth.
"This is the biggest Achilles heel of the Russian economy going forward," he said.
