Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
St. Petersburg, June 20 (Xinhua) — The idea of Russia’s economy as a raw materials economy is outdated. The contribution of raw materials is no longer decisive. Despite difficult conditions and external pressure, Russia’s GDP has grown at a rate higher than the world average in the past two years. This was stated by Russian President Vladimir Putin on Friday.
“The contribution of the raw materials component to the economic dynamics of our country is no longer decisive. Thanks to the work of tens of thousands of enterprises and companies, our economy is not just developing confidently, but is becoming more qualitative, complex and multifaceted,” said V. Putin during the plenary session of the St. Petersburg International Economic Forum.
“Despite the difficult external background, Russia’s GDP has increased by more than 4 percent annually over the past two years, meaning it has grown at a rate higher than the global average,” he added.
In particular, according to the Russian President, the growth of non-oil and gas GDP in 2023 was 7.2 percent, in 2024 – 4.9 percent. Annual inflation in Russia fell to 9.6 percent. The situation with price growth is developing better than expected, which made it possible to soften monetary policy.
Russia has achieved a record reduction in the poverty level: at the end of last year it was 7.2 percent, noted V. Putin.
“I will repeat for our guests. In 2000, the poverty level was 29 percent in Russia. And in such, well, let’s say frankly, humiliating situation, we had 42.3 million people,” the Russian president recalled.
V. Putin stressed that Russia should strive to further reduce poverty to 5 percent. –0–