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New areas open for Russian companies — Putin

"As I reiterated, the world did not collapse due to sanctions, due to the withdrawal of Western companies," the head of state noted

MOSCOW, June 29. /TASS/. The world did not collapse due to Western sanctions and new development areas become open for Russian companies, President Vladimir Putin said on Thursday.

"As I reiterated, the world did not collapse due to sanctions, due to the withdrawal of Western companies. On the contrary, opportunities for Russian businessmen have expanded many-fold. They are proactively taking market niches becoming vacant and develop new, including export, business lines. The entire economy is progressing as a result," the head of state said.

Putin invited attention to several economic indicators in this connection. "I spoke about that yesterday, when I was in Dagestan. Russian GDP gained 5.4% in May in annual terms, from May to May. This is a decent figure. As regards the processing industry, growth is measured by double-digit figures there - 12.8%. The processing industry moved upward. This is not merely on the account of the defense industry, not only. Related industries are also on the rise, and this is amid the unemployment rate being the lowest throughout the contemporary history and low inflation. This is a good result," the President stressed.