Western sanctions have forced the country to focus more on manufacturing than energy exports, and the change has been beneficial, according to Russia’s president
The Russian economy is in good shape and is rapidly expanding despite pressure from Western sanctions, President Vladimir Putin said during his visit to Vishnevsky Military Hospital in Moscow on Monday.
The head of state noted that the country’s gross domestic product (GDP) grew 3.5% in 2023, which is a very promising development after the 2.1% contraction it suffered in 2022.
“Our GDP, the key indicator that shows how much our economy has produced… grew 3.5% in 2023. What this tells us is that our economy is functioning steadily. We recuperated our losses and moved forward. This is fundamental,” he stated, noting that while there are still problems facing the economy, like rising inflation, “we’re keeping everything under control.”
Putin noted that this growth stems from…