Supporters of sanctions are now grappling with problems they had predicted for Russia, according to the president
The Russian economy is now developing in a new way, with GDP expected to grow as soon as the second quarter of this year, President Vladimir Putin said on Thursday.
Speaking at a plenary session of the Congress of the Russian Union of Industrialists and Entrepreneurs (RSPP) in Moscow, Putin said the country has managed to fully compensate for the loss of access to Western markets.
According to the head of state, Russia’s foreign trade grew by more than 8% last year, while last year’s trade surplus hit $332 billion.
The president noted that former European partners are trying “to convince everyone of the imminent collapse of the Russian economy,” even though EU inflation rates are higher.
Inflation in Russia is expected at around 4%, while retail growth is projected to reach 5% in April, thanks to a stable labor market, lower…
