Diksia.com - MOSCOW, Russian President Vladimir Putin said his country’s economy is performing better than expected, even though Moscow is currently under Western sanctions over its invasion of Ukraine.
Putin made this statement on Tuesday evening (April 7, 2023), citing data from Russian Prime Minister Mikhail Mishustin.
According to data reported by Mishustin, Russia’s gross domestic product (GDP) growth is expected to exceed 2 percent this year, and consumer price inflation (CPI) will not exceed 5 percent.
“Our economic growth is currently at least much better than previously assumed,” said Putin.
Later, Mishustin Putin also said that he was sure that there would be no force majeure and that the economy would grow well this year.
“Dear Vladimir Vladimirovich (Putin), the country’s economy continues to confidently recover, despite the sanctions, despite all the obstacles imposed on our country,” Mishustin said.
Russia’s economy is expected to contract by 2.1 percent in 2022 and came under particular pressure last spring when Kiev’s ally imposed sweeping sanctions on Moscow over its military operations in Ukraine.
The impact of these sanctions will certainly hurt Moscow, where Western financial markets and many export markets are closed to Russian companies and commodities.
Still, Russian Finance Minister Anton Siluanov has repeatedly stated that Moscow’s budget deficit will not exceed 2 percent of GDP this year, although most analysts disagree.
The International Monetary Fund (IMF) forecasts that Russia will see a growing budget deficit this year.
Source: Tribunnews / Mikael Dafit Adi Prasetyo
