‘World’s economy returning to pre-COVID structure’

The world’s economy is recovering after the pandemic and returning to the structure it had before the COVID-19 pandemic, Governor of the Russian Central Bank Elvira Nabiullina said at a press conference after the Board meeting.

“The global economy is returning to the pre-COVID structure. The demand for services fell abruptly and the demand for goods surged during the pandemic; the situation is reverse now,” she said.

Flash indicators reveal resilient expansion of the economic activity globally on account of the services sector, while dynamics is weaker in the industry, the Central Bank chief said.

“The strained geopolitical situation” also has a strong impact, she added.