The vaccination campaign has helped reduce the pressure on the economy that has arisen due to the pandemic, Russian Prime Minister Mikhail Mishustin said in his welcoming address to the participants of the Gaidar Forum.

"Vaccination has helped reduce the pressure on the economy, although not everywhere and not always evenly. Because of such imbalances, many governments have had to make additional decisions to support people and businesses by extending a number of programs," he said in a video message.

The excess liquidity and low interest rates, according to Mishustin, led to a runaway inflation, while in some countries, it reached multi-year highs.

He also pointed to the exacerbation of other problems: globalization has slowed and rhetoric in support of local producers has intensified, the prime minister explained.

"The struggle for technological leadership has sharply intensified. Entire industries are under pressure: the tourist services market, transportation, offline trade, leisure, entertainment," Mishustin continued.

Made in Russia // Made in Russia

Author: Ksenia Gustova