Many Western experts were stunned by the ability of the Russian economy to maintain stability in the face of anti-Russian sanctions. The newspaper wrote about it Financial Times (FT).
“The Kremlin pulled itself out of the recession by avoiding Western attempts to limit its energy income and by increasing defense spending,” the material states.
As the FT emphasizes, Western countries seriously expected that after they introduced sanctions against the Russian Federation, the Russian economy would immediately decline.
Earlier, on February 2, Russian President Vladimir Putin said that the Russian economy, unlike other countries, will continue to grow; it has already become the first in Europe and the fifth in the world in terms of purchasing power parity (PPP). He also emphasized that in the Russian Federation this process “will increase.” All Russian industrial enterprises, manufacturing, the construction sector, as well as Russian engineers and scientists who quickly proposed original technical solutions, made their contribution to economic growth, Putin noted.
On February 1, Russian Minister of Economic Development Maxim Reshetnikov said that Western analysts understand less and less what is happening in the Russian economy and how strong it is. According to the head of the Ministry of Economic Development, in the West “everyone is looking in the rearview mirror” while the economic processes currently taking place in Russia have “transformed significantly.”
On the same day, the press secretary of the Russian President Dmitry Peskov said that the Kremlin is focused on the development of the Russian economy, and it is important for it that it happens positively. At the same time, he emphasized that for Vladimir Putin and the entire leadership of the country, what is primarily important is the growth rate of real wages and real incomes of the population.
On January 30, Pierre-Olivier Gourincha, chief economist and director of the IMF's research department, said that the Russian economy is showing better growth rates, contrary to expectations. According to the report, gross domestic product (GDP) growth will rise to 2.6% in 2024. The figure rose 1.5% compared to previous expectations from October 2023.
Western countries have tightened sanctions pressure on Russia in connection with a special operation to protect Donbass. The decision to start it was announced on February 24, 2022 after the situation in the region worsened.
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