Moscow hopes restrictions will be lifted by mid-2021

The government expects the economy to Moscow The recovery will begin by mid-2021, when most restrictions are lifted.

Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations, said: “We expect that the economy will move to a planned dynamic recovery by the middle of next year, when, we hope, it will be possible to remove most of the current restrictions.”

Gross regional product is expected to decline in 2020. At 3-4%, this is less than originally predicted.

“Next year, we plan to recover in similar parameters in a plus.”

According to Efimov, this year, despite the restrictions, enterprises are reaching the planned indicators in a number of industries. “Overall is almost flat on average, 10-15% behind last year’s revenue. If we look at trade in non-food products, we see the dynamics of 10-15% compared to last year.”

According to V. Efimov, in industries related to tourism and cultural events, the backlog of revenue from 2019 reaches 60%.

Source: tourism.interfax

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