Russian Economy Has Continued to Grow Despite Foreign Sanctions: Putin
Moscow. X/ @rusintrade
December 19, 2024 Hour: 10:45 am
Russia has the largest European economy and the fourth largest in the world by purchasing power parity.
On Thursday, President Vladimir Putin stated that the Russian economy is stable and predicted that the Gross Domestic Product (GDP) would grow by 3.9% or even 4% this year.
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“The situation is normal and stable, despite all external threats,” said the Kremlin leader during his year-end press conference, where he also answers questions from citizens. He recalled that last year the Russian economy grew by 3.6% and emphasized that international financial institutions rank it as the largest economy in Europe and the fourth largest in the world by purchasing power parity.
“Last year, we surpassed Germany, and this year, Japan,” he said, acknowledging that inflation this year would reach 9.3%, calling it an “alarming signal.”
The Russian president noted that the rise in prices is partly due to Western sanctions over the war in Ukraine but stressed that these are not the main factor.
“There are also our own mistakes. For example, some experts believe that the Central Bank (CBR) could have started using certain tools more effectively and earlier, tools that are unrelated to raising interest rates,” he added. Nevertheless, real income for the population, adjusted for inflation, increased by 9%.
On Thursday, the Russian president also addressed the ecological disaster caused by an oil spill following the sinking of two oil tankers in the Russian region of Krasnodar. He demanded measures to mitigate its consequences and prevent further pollution.
Putin explained that about 40% of the crude oil carried by the tankers spilled into the Black Sea. “According to the information I received, the captains violated safety regulations and failed to secure their vessels properly in time. Some ships sought shelter and were unharmed. But these did not, and they anchored in inappropriate places,” he stated.
Currently, efforts to mitigate the consequences of the disaster are being hampered by bad weather. However, Russian authorities expect to speed up environmental remediation work when the weather improves over the weekend.
The affected coastline from the oil spill caused by the sinking of the two tankers extends nearly 50 kilometers, according to the Ministry of Emergency Situations.
teleSUR/ JF Source: EFE
