The ministry noted that due to the relatively high effectiveness of Russian anti-crisis measures, the reduction of the domestic economy will not be as deep as in other countries.

Moreover, the economic recovery in Russia will be more dynamic, according to the Ministry of Finance.

“Russia proceeds from the need to return to compliance with the current budget rules since 2022 with a transitional period in 2021,” the ministry said.

Earlier, Russian Deputy Minister of Finance Vladimir Kolychev said that the federal budget of Russia lost more than 1 trillion rubles due to restrictions imposed in connection with the pandemic.