Russian President Vladimir Putin stated that the country’s economic growth is largely due to the strengthening of sovereignty, during a direct line event combined with a news conference, according to RIA Novosti.
The president explained that when some manufacturers exited the Russian market, it prompted domestic entrepreneurs to begin producing the corresponding goods independently. Additionally, development institutions have started to play a key role.
This is particularly crucial for our country, as losing sovereignty would mean losing statehood, Vladimir Putin stressed.
He also noted that the country’s GDP growth is expected to exceed 2%.
“Estimates may vary for next year, but we expect the economy to grow at a rate of 2–2.5 percent. This soft landing would enable us to keep improving our macroeconomic performance,” the president said.
At the same time, he added that Russia cannot become complacent with its economic achievements, even though the European economy has “fallen asleep”.