ST. PETERSBURG, June 16. /TASS/. Russian President Vladimir Putin has no doubt that in the coming years Russia will retain the sixth place in the world in terms of gross domestic product, calculated at purchasing power parity.

The head of state made it clear speaking at the St. Petersburg International Economic Forum (SPIEF).

"There is no doubt that in the coming years we will retain this sixth place, if we count GDP at purchasing power parity. <…> Now, indeed, Russia ranks sixth in the world in terms of economic size at purchasing power parity. I spoke about macroeconomic stability, about how the economic situation is developing now and how we forecast it. I have no doubt that we will certainly secure this sixth place," Putin stressed.

The President recalled that today the top six countries in terms of GDP at purchasing power parity include China, the USA, Japan, India, Germany and Russia.

"Actually, Indonesia is approaching this cohort of the world's leading economies, because the population is growing rapidly, the economy is growing rapidly. In general, very powerful processes are taking place in developing economies," Putin said.

Putin also recalled that in his speech at the forum President of Algeria Abdelmadjid Tebboune had also spoken about the growth of the population of his country, which also leads to economic growth. Putin added that Russia and Algeria have "a lot of interesting joint projects that will certainly be developed."

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. The theme of this year’s forum is: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS is the official information partner of the event.