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Oct 16, 2020
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Part of Russian business benefits from the depreciation of the ruble – Manturov

Russian Industry and Trade Minister Denis Manturov said that some Russian companies benefit from the depreciation of the ruble, Bloomberg reports.

Companies that are not directly dependent on imports, according to Manturov, are in an advantageous position. The minister noted that the Russian economy in the summer saw a recovery after the abolition of some sanitary measures that were introduced due to the coronavirus. According to forecasts, industrial production in Russia by the end of the year may decline by 4.5%.

Earlier it was reported that Manturov does not yet see the need to close retail and catering due to COVID. The Ministry of Industry and Trade believes that shops and cafes can continue to operate subject to the recommendations of Rospotrebnadzor.

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