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Russia’s Economy Withstands Sanctions Pressure, Recovers Successfully: Putin

© Sputnik / POOL / Go to the mediabankRussia's President Vladimir Putin attends a meeting with Belarus' President Alexander Lukashenko, in Sochi, Russia.
Russia's President Vladimir Putin attends a meeting with Belarus' President Alexander Lukashenko, in Sochi, Russia. - Sputnik India, 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.

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.

Vladimir Putin addresses the plenary session of the Eastern Economic Forum - Sputnik India, 1920, 12.09.2023
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