https://sputniknews.in/20230822/russia-overtook-germany-as-5th-largest-economy-president-putin-3765540.html
Russia Overtook Germany as 5th Largest Economy: President Putin
Russia Overtook Germany as 5th Largest Economy: President Putin
Sputnik India
Russia overtook Germany to become fifth biggest economy in the world in 202, Russian President Vladimir Putin said on Tuesday.
2023-08-22T20:55+0530
2023-08-22T20:55+0530
2023-08-22T20:55+0530
business & economy
western sanctions
sanctions
g7
global oil production
russian oil price cap
russian oil
dedollarisation
pivot to asia
global south
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As the so-called collective West slapped unprecedented sanctions on Russia in the wake of its special military operation in Ukraine, the western nations hoped to see the Russian economy collapse and its people suffer. However, their hopes were not meant to materialize, as Russia managed to unwrap new partnerships and explore other opportunities on the global market, thanks to the current trend for dedollarisation and the overall global power shifting to the East.Check out the Putin's latest statements on the state of the Russian economy:Russian Prime Minister Mikhail Mishustin said that the Russian economy had adapted to Western sanctions and was growing steadily, adding that, despite all attempts to cut it off from global production chains, logistics routes and financial systems, interest for the country's economy was increasing.
https://sputniknews.in/20230814/putin-says-market-for-products-using-ai-growing-in-russia-3592233.html
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russian economy, russian economy collapse, russian sanctions, sanctions against russia, is russian economy strong,
russian economy, russian economy collapse, russian sanctions, sanctions against russia, is russian economy strong,
Russia Overtook Germany as 5th Largest Economy: President Putin
Russia overtook Germany to become fifth biggest economy in the world in 202, Russian President Vladimir Putin said on Tuesday.
As the so-called collective West slapped unprecedented sanctions on Russia in the wake of its special military operation in Ukraine, the western nations hoped to see the Russian economy collapse and its people suffer.
However, their hopes were not meant to materialize, as Russia managed to unwrap new partnerships and explore other opportunities on the global market, thanks to the current trend for dedollarisation and the overall global power shifting to the East.
Check out the Putin's latest statements on the state of the Russian economy:
Growth rate is stable, including in industry;
The current budgetary situation is stable and risk-free;
In July-September, the budget will be reduced to a surplus, and by the end of the year, the excess of spending over income will be the planned 2% of GDP;
Domestic manufacturers quickly occupy the niches of departed foreign companies, Russia will continue to act in the same way.
According to Sputnik's calculations based on the data from the World Bank, Russia's GDP by purchasing power parity (PPP) in 2022 for the first time ever exceeded $5 trillion, allowing the country to remain the world's fifth-largest economy.
Russian Prime Minister Mikhail Mishustin said that the Russian economy had adapted to Western sanctions and was growing steadily, adding that, despite all attempts to cut it off from global production chains, logistics routes and financial systems, interest for the country's economy was increasing.
In early August, The Wall Street Journal reported that the West's strategy of imposing sanctions on Russian businessmen and their families proved to be ineffective. Russia's ability to withstand the sanctions will be a subject for analysis in the future, according to the report.
