Russia's economy has turned out to be number one in Europe based on purchasing power parity and fifth in the entire world, Russian President Vladimir Putin said on Thursday.
Putin met with businessmen from Khabarovsk in the Far East and shared his views on the nation's economic prospects, praising Russia's performance despite pressure from the West's sanctions, while stressing that there is work to be done.
“It seems that we are being strangled and crushed from all sides, but we have become the largest economy in Europe. We have overtaken Germany, and rank fifth in the world," Putin revealed.
President Putin specified that Russia had outperformed Europe in purchasing power parity, but in the context of per capita GDP, “there is work to be done.”
The head of state added that Russia’s economic growth may be higher than the anticipated 3.5% at the end of 2023.
After Moscow had launched its special military operation to defend the population of Donbass from Ukrainian aggression, US-led Western countries imposed countless sanctions against the Russian economy. Despite the intentions of the collective West, these restrictive measures have failed to attain any of their declared goals, with Russia dramatically broadening its trade and diplomatic ties with nations of the Global South. Putin has repeatedly pointed out that despite the West's sanctions, Russia has strengthened and expanded its economic sovereignty.