Second wave of coronavirus does not affect business activity in Russia

The second wave of the coronavirus has not pushed Russian business activity down, according to Deputy Finance Minister Vladimir Kolychev. “Judging by daily figures, we do not see the second wave leading to any substantial decline in business activity across the economy, though it is notable in certain sectors,” he said on a conference. “We believe that the fact that economic authorities have adjusted to unexpected developments both in monetary policy and in budget policy has played a certain role, relatively meaningful,” he added.

In the same time, the largest Russian online retailer Wildberries studied the purchases of Russians between November 6 to 12 and noted a more than two-fold increase in demand for goods for home holidays compared to October of this year. The company attributes this increase in sales to the restrictions imposed on the operation of clubs, bars and restaurants due to the coronavirus.