PM says Russian markets exceed pre-pandemic crisis level

MOSCOW, Dec 10 (PRIME) – The global markets have recovered from the pandemic shock, and Russia has even exceeded the pre-crisis level, Prime Minister Mikhail Mishustin said at a forum on Friday.

"We can already say today that the global markets have generally recovered from the shock caused by the pandemic. Russia has not only returned to the pre-crisis level but exceeded it," Mishustin said.

He added that non-mineral and non-energy exports can exceed U.S. $180 billion in 2021.

But despite the positive economic trends, no balance on the foreign markets was found. There is turbulence in trade policies, and the risks of strengthening protectionism have increased, Mishustin said.

Large-scale transformation of the economy is required to raise exports of non-mineral goods, but the task is manageable, the prime minister added. Agriculture has great potential, because many companies with a high added value work on the market and stimulate the related industries.

Still, only less than 1% of companies are export-oriented, and the situation has to change, Mishustin said, adding that the government will support businesspeople in their export involvement.

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