Despite pessimistic forecasts, Russia is among the five largest economies in the world and has overtaken the Federal Republic of Germany, Russian President Vladimir Putin said at the Council on Strategic Development and National Projects.
Growth rates are steady, including in industry. The current budget situation is stable and risk-free.
For July-September the budget will be reported with a surplus, and by the end of the year the excess of expenditures over revenues will amount to the planned 2% of GDP.
Moscow managed to increase its economic power, breaking the record of $5 trillion for the first time in history in terms of purchasing power parity (PPP) at the end of 2022, statistics published by the World Bank had shown.
Domestic manufacturers are quickly filling the niches of foreign companies that have left, and Russia will continue to do the same.
The world's largest economy in PPP was China with $30 trillion, the second place was taken by the United States with $25.5 trillion. India with $11.9 trillion is the top three rear, while the fourth place was taken by Japan ($5.7 trillion).