ST. PETERSBURG, June 16. /TASS/. Russia has had an edge over competitors thanks to macroeconomic stability, Russian President Vladimir Putin said at a plenary meeting of the St. Petersburg International Economic Forum (SPIEF).

"What is important, is that the stable macroeconomic situation has become our competitive advantage and an effective driver for growth," the Russian leader said.

According to Putin, in 2022, lending to legal entities grew 14.3%, while retail lending increased 9.5%. Mortgage loan growth has been fast, too, he added, describing the trends as "quite good."