Return Of World Economy To Pre-COVID Model Means Decrease In Russian Trade Surplus- Moscow

The world economy is returning to its pre-COVID model, which means a decrease in Russia's trade surplus, Russian Central Bank Governor Elvira Nabiullina said on Friday

MOSCOW (UrduPoint News / Sputnik - 09th June, 2023) The world economy is returning to its pre-COVID model, which means a decrease in Russia's trade surplus, Russian Central Bank Governor Elvira Nabiullina said on Friday.

"The world economy returning to its pre-COVID structure. During the pandemic, the demand for services fell sharply and the demand for goods increased sharply.

Now the situation is reversed, operational indicators reflect a steady expansion of economic activity in the world due to the services sector, while the dynamics in industry is weaker. For Russia, all these trends mean a further decrease of the trade surplus, which, other things being equal, through the exchange rate can act as a pro-inflationary factor," Nabiullina said at a press-conference.