OREANDA-NEWS. The market contracted sharply and almost simultaneously because of the pandemic, retail trade in Russia fell by 35%, Russian President Vladimir Putin said.

The head of state called the negative consequences of the coronavirus pandemic for the economy. "Obviously, as in other countries of the world, our economy and business have faced serious pressure. The coronavirus epidemic has already influenced and continues to negatively affect business, entrepreneurial activity, the dynamics of the labor market, many cooperative, trade, and economic ties are disrupted". he said at a meeting on economic issues.

Putin noted that Russia has resources and reserves for anti-crisis policy, they need to be used as efficiently as possible.