Putin Unveils Russia’s Economic Dominance Over America and Europe

Russian President Vladimir Putin today, Thursday, considered that the reduction of Russia’s public debt is a good indicator, especially compared to other countries, including developed ones.

Putin said at a meeting with the Minister of Economic Development of Russia Maxim Reshetnikov about the current state of the Russian economy: “14.9% in Russia (the ratio of public debt to GDP), in the USA the indicator is at the level of 121.7%, in the Eurozone – 90.9% , and in Germany – 66.5%, in France – 111.1%, our public debt is at a good level.

For his part, the Minister of Economic Development of Russia indicated that by the end of 2023 Russia will be among the leading countries in terms of economic growth.

Reshetnikov said that in 2023 the Russian economy is expected to grow by 1.2%.

Earlier, the International Monetary Fund praised the performance of the Russian economy in the face of sanctions and said: “The Russian economy appears to be more resilient than expected at the beginning of last year following the imposition of Western sanctions.”

Fund experts explained that the unexpectedly strong results in 2022 are due to the stability of oil exports in light of its high prices and the continuation of supplies, as the oil and gas industry recorded record profits.

Source: News

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