Russia Highlights Economic Resilience Amid Sanctions
Speaking at the Russia Calling! Investment Forum on Tuesday, he noted that the nation continues to experience steady economic expansion while preserving joblessness at historic lows and keeping price growth under control.
Putin forecasted that the economy would advance by 0.5% to 1% this year.
He attributed this outlook to the central bank’s measures to restrain inflation, which is projected to fall to 6% – significantly lower than earlier governmental estimates, according to the president.
He also indicated that the financial sector is on track to deliver strong outcomes in the current year, anticipating profits of 3.2–3.5 trillion rubles ($41–45 billion). Meanwhile, the jobless rate stands at a mere 2.2%, he added.
Putin stated that the government and the central bank share a “consensus” regarding matters of economic advancement.
He affirmed that Russia’s public debt will remain “one of the lowest in the world,” noting that the country has still succeeded in obtaining resources for all the “key priorities,” such as social programs, defense and security, and nationwide development initiatives.
Russia, he explained, “definitely feels the external pressure. Yet, our nation and our economy successfully meet those challenges,” while accusing Western states of employing “anti-competitive practices” in an effort to protect their “elusive monopoly” over international markets.
Since the escalation of the Ukraine conflict in February 2022, Western nations have imposed an extraordinary number of punitive measures intended to debilitate the Russian economy.
Moscow asserts that these restrictions have not undermined economic stability nor severed the country’s links to the global financial network.
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