The Central Bank allowed a negative impact on the economy during a new wave of COVID-19

If the spread of CORONAVIRUS continues and new mutations appear, a significant impact on economic processes is possible. This is stated in the report of the Central Bank on monetary policy for April 2021.

“It is still possible that the epidemic situation worsens, which can significantly affect economic processes,” the report says.

The authors of the report emphasize that the pandemic has less impact on the Russian and global economy, as it did in the middle or end of 2020. “Already now, most industries have fully recovered. The dynamics of the rest is constrained only by ongoing restrictions, largely related to the pandemic,” the report says.

The Central Bank says that the return of economic activity to the level of the end of 2019 will occur in the second half of 2021.