Russia now fourth-largest economy after China, US, India : President Putin
Russian President Vladimir Putin recently announced that Russia is now ranked as the fourth-largest economy in the world according to purchasing power parity (PPP), following China, the United States, and India.
This statement was made during his annual press conference, where he emphasized the importance of economic strength for national stability and defence capabilities.
Putin stated that international financial institutions have recognized Russia as the largest economy in Europe by volume and the fourth globally, surpassing both Germany and Japan in recent years.
He highlighted a growth rate of 3.6% for 2023, with projections for 2024 suggesting an increase to between 3.9% and 4%.
This growth reflects an approximate 8% increase over two years.
Despite ongoing external pressures, particularly from sanctions related to the conflict in Ukraine, Putin asserted that the Russian economy remains stable and is developing positively.
He acknowledged inflation concerns, citing a year-on-year rate of 9.3%, but insisted that overall economic conditions are secure.
While asserting Russia’s position, he noted that it is crucial not to become complacent, as other global economies are also evolving.
Putin’s remarks come amid a complex economic landscape shaped by geopolitical tensions and domestic challenges, yet he maintains an optimistic outlook on Russia’s economic trajectory.
