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Russian Economy Has Become the First in Europe Despite Enormous Pressure, Putin Says
Russian Economy Has Become the First in Europe Despite Enormous Pressure, Putin Says
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In late December, Russian presidential aide Maxim Oreshkin said Russia was challenging Japan for the world's fourth-largest economy, noting that the Global... 11.01.2024, Sputnik Africa
2024-01-11T08:39+0100
2024-01-11T08:39+0100
2024-01-11T10:20+0100
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The Russian economy has become the first in Europe and the fifth in the world in terms of purchasing power parity, Russian President Vladimir Putin said at a meeting with businessmen from Russia's Far East .The leader called Russia's achievement "an amazing result," achieved despite pressure on Moscow from other countries.Putin noted that Russia has overtaken the whole of Europe in terms of purchasing power parity, but "on a per capita basis - we still have to work harder.""So there's something to work on here," he emphasized.At the end of December, the Russian Ministry of Economy estimated that the Russian economy will grow by 3.5% in 2023. According to the ministry's official forecast, the country's GDP will grow by 2.3% in 2024.However, Putin argued that Russia's economic growth can be higher than the expected 3.5% as of the end of 2023.Russia has become the most sanctioned country in the world since the start of its special military operation in Ukraine in 2022, with over 15,000 sanctions imposed by Washington and its allies. The sanctions target Russian exports of energy, food and fertilizers, as well as imports of high-tech products and various industrial goods. In September, during the Eastern Economic Forum, Putin said that Russia should be self-sufficient, which does not mean isolation. In November, the Kremlin said that there was a threat of collapse of the Russian economy due to the unprecedented weight of sanctions, but Russia managed to stabilize the situation and get on the growth track.This week, the World Bank raised its forecast for Russian economic growth in 2024 to 1.3%, up 0.1% from its June estimate.
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Russian Economy Has Become the First in Europe Despite Enormous Pressure, Putin Says
08:39 11.01.2024 (Updated: 10:20 11.01.2024) In late December, Russian presidential aide Maxim Oreshkin said Russia was challenging Japan for the world's fourth-largest economy, noting that the Global North's economy is in decline and long-term stagnation.
The Russian economy has become the first in Europe and the fifth in the world in terms of purchasing power parity, Russian President Vladimir Putin said at a meeting with businessmen from Russia's Far East .
The leader called Russia's achievement "an amazing result," achieved despite pressure on Moscow from other countries.
"It seems that we are being strangled and pressured from all sides, but we have become the first in Europe in terms of economic volume. We overtook Germany. And we are fifth in the world," the Russian president said.
Putin noted that Russia
has overtaken the whole of Europe in terms of purchasing power parity, but "on a per capita basis - we still have to work harder."
"So there's something to work on here," he emphasized.
At the end of December, the Russian Ministry of Economy estimated that the Russian economy will grow by 3.5% in 2023. According to the ministry's official forecast, the country's GDP will grow by 2.3% in 2024.
However, Putin argued that Russia's economic growth
can be higher than the expected 3.5% as of the end of 2023.
"It can be [higher than 4%], yes. We are experiencing a decline, as [Prime Minister] Mikhail Vladimirovich [Mishustin] told me before leaving here, we always thought the decline in 2022 would be 2.1%, in fact, it turned out to be 1.2% ... Therefore, maybe there will be a higher GDP growth," Putin told the businessmen.
Russia has become the most sanctioned country in the world since the start of its special military operation in Ukraine in 2022, with over 15,000 sanctions imposed by Washington and its allies. The sanctions target Russian exports of energy, food and fertilizers, as well as imports of high-tech products and various industrial goods.
In September, during the Eastern Economic Forum, Putin
said that Russia should be self-sufficient, which does not mean isolation.
In November, the Kremlin said that there was a threat of collapse of the Russian economy due to the unprecedented weight of sanctions, but Russia managed to stabilize the situation and get on the growth track.
This week, the World Bank raised its forecast for Russian economic growth in 2024 to 1.3%, up 0.1% from its June estimate.
