Chinese 100, 50, 20, 10 and 5 yuan bills and Russian 1,000 and 100 ruble bills - Sputnik International, 1920
Get breaking stories and analysis on the global economy from Sputnik.

Russia’s Economy Recovers, Country Withstands Sanctions Pressure - Putin

© Sputnik / Alexander Kazakov / Go to the mediabankRussian President Vladimir Putin Congratulates AirborneTroops on Airborne Forces Day
Russian President Vladimir Putin Congratulates AirborneTroops on Airborne Forces Day - Sputnik International, 1920, 18.09.2023
The Russian economy has recovered, and the country has successfully withstood sanctions pressure, President Vladimir Putin said on Monday.
“In general, we can say that the restoration of the Russian economy has been completed. We withstood absolutely unprecedented external pressure, the sanctions onslaught of some ruling elites in the so-called Western bloc, some ruling elites in certain countries, which we call unfriendly," Putin stated at a meeting on the planning of the federal budget for 2024.
Moreover, Russia's GDP growth may amount to 2.5-2.8% by the end of the year, the president stressed.

"Initially, some negative figures were forecast for us, but then the forecast was corrected and 1.2% [of GDP growth] was expected, but in fact we have already exceeded this level, and by the end of the year the GDP growth may reach 2.5%, even maybe more – 2.8%," Putin noted.

A view of the Kremlin with Spasskaya Tower and St. Basil's Cathedral in Moscow, Russia. - Sputnik International, 1920, 17.08.2023
Russia Gets Richer While West Bleeds Trillions in Funding Ukraine Amid Failed Sanctions
The country's GDP has reached the level of 2021, and now it is important to create conditions for further stable long-term development, the president added.
Furthermore, Russia’s oil and gas revenues in July-August have recovered the level of last year, while non-oil and gas revenues have significantly exceeded last year's figures, according to the president.

"It is important that non-oil and gas revenues are significantly higher than last year’s figures. Besides, oil and gas budget revenues in July-August recovered approximately to the level of last year, and active growth continues, considering the situation on the world market," Putin clarified.

 Russian currency - Sputnik International, 1920, 30.08.2023
Russia's GDP Grows by 2.1% in Annual Terms in January-July
To participate in the discussion
log in or register
Заголовок открываемого материала