Central Bank: the Russian economy in the second quarter of 2021 reached the pre-crisis level

This is stated in the text of the regulator's statement following the meeting of the board of directors.

“According to the Bank of Russia estimates, in the second quarter of 2021, the Russian economy reached the pre-crisis level.

Operational indicators indicate a steady growth in consumer and investment demand, ”the message says.

The Central Bank noted that consumer activity exceeded the level recorded before the start of the pandemic.

The Bank of Russia Board of Directors previously decided to raise the key rate to 6.5% per annum.

As of July 16, Russia's international reserves amounted to $ 597.4 billion. The Central Bank clarified that the increase in the volume of international reserves occurred under the influence of a positive revaluation and the purchase of foreign currency within the framework of the budget rule.