Japanese Media Admired the Success of the Russian Economy During the Pandemic
OREANDA-NEWS. The Russian economy is confidently going through a difficult period caused by coronavirus restrictions. Edition JB Press writes about it.
Like all world powers, Russia faced difficulties at the beginning of the pandemic due to COVID-19.
"However, compared to other developed and emerging countries, the wounds were not so deep," writes author Tetsuya Umetsu.
In his opinion, the decision of the authorities not to stop industrial production in many regions helped to survive the drop in economic indicators relatively easily.
In addition, Umetsu highlighted the success of the service industry this spring. He quotes the owner of a Japanese restaurant in Moscow as saying that income has increased compared to the times before the pandemic.
The article notes that in Russia, as in many countries, new business opportunities have emerged due to the transition to remote work. Thus, Japanese manufacturers of compact printers and speakerphones reported high demand for their products in Russia.
At the same time, Umetsu said that there are areas in the Russian economy that the government and the Central Bank still have to work on. In particular, he highlighted the rise in inflation affecting business sentiment.