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Russia doing better than many G20 countries – Putin

The stability of the economy is due to the efforts of the government and business, the president has said

Russia is showing better economic results than many of the G20 nations despite the mounting sanctions pressure, President Vladimir Putin has stated. He made the remarks on Thursday at a press conference following a meeting of the Russian State Council, a top advisory body.

“As for the economy, despite the collapse, dissaray and catastrophe predicted for us in the economic sphere, nothing of the kind has happened. Moreover, Russia demonstrates much better results than many countries of the G20, and demonstrates it consistently,” Putin said, adding that he referred to macroeconomic indicators.

This was achieved thanks to the effort of government, business and other economic actors, the president stressed.


“The labor market is stable. State finances are stable, there are no concerning moments there as well. All this is not the result of something that fell from the sky. This is the result of the work of the government, regional teams, business, and the overall spirit in society, which demonstrates unity and the desire to work together to achieve the goal,” Putin noted.

One of the prime targets for Western sanctions before, Moscow has been subjected to multiple new waves of assorted restrictions over the conflict in Ukraine, which broke out in late February. The EU alone has so far adopted nine rounds of sanctions, targeting various sectors of the Russian economy and banking, banning exports, and pursuing personally Russian businessmen and politicians alike.

The continuous efforts to restrict Russian fossil fuels trade have been repeatedly named among the key causes behind the ongoing energy crisis in the EU by numerous experts and politicians. Earlier, Putin likened such policy on the bloc’s part to an economic “suicide” it was willing to commit.

December 22, 2022 at 10:00PM


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