In January 2021, the Russian industry reported such an intensive growth in its prices compared to previous month which the polls had not recorded for 10 years since January 2011. This was told to EADaily by Sergey Tsukhlo, Head of Business Surveys Department of the Gaidar Institute.

According to the economist, the industry decided to take an investment pause in January after the decisive December revision of investment plans, when the balance of the indicator increased by a record 16 points for the post-crisis period.

As for lending, the normal availability of loans which reached the pre-crisis 69% in August 2020, dropped to 60% in September-November and has been at this level for the third month now.

“At the same time, only 1% of enterprises consider the lack of loans as an obstacle to the growth of output,” the expert emphasized.

According to the Gaidar Institute, the demand quite expectedly showed negative dynamics in January 2021, influenced by a large and extremely unusual set of factors for the economy. However, the decline in the balance of actual sales changes turned out to be not as catastrophic as the enterprises saw in December 2020.

“The dynamics of demand, moderately negative compared to extremely pessimistic forecasts allowed the industry to avoid a reduction in output in January, revise the plans for output and sales for the better,” economists from the Gaidar Institute say.

“A number of restrictions were lifted automatically after exit from the European Union, for example, residents of the United Kingdom can now pay for services rendered in the ports of Kerch, Yalta and Yevpatoria,” said Alexander Knobel.

However, according to Alexander Knobel, this does not signify a mitigation policy, and Great Britain will definitely join in current EC sanctions.

“In the medium term, restrictions may affect the agro-industrial sector being quite sensitive, however, no additional sanctions on trade of petrochemicals, machinery and equipment compared to the European ones, should be expected,” the expert concluded.