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Medvedev refutes West’s allegations about collapse in Russian economy

According to the Deputy Chairman of the Security Council, the growth of production in Russia is “much higher than in Europe”

MOSCOW, July 2. /TASS/. Deputy Chairman of the Russian Security Council Dmitry Medvedev has refuted the West’s allegations that Russia’s economy is falling apart, saying that production growth in Russia "is much higher than in Europe."

In an article for the Rossiyskaya Gazeta daily, which came out on Sunday, he commented of the West’s allegations that "Russia’s economy is falling apart." "No way," he stressed. "Production growth is much higher that in Europe. Even Reuters admitted that in April 2023 activities in Russia’s production sector demonstrated growth for the 12th months in a row."

"Notably, our inflation rates are much lower than in many Western countries. It is close to the all-time minimum and stands at 2.9% And it will not raise above five percent by the end of the year, whereas, according to the European Commission’s forecast, inflations in the euro zone will be about six percent in 2023. Unemployment in Russia is at the lowest-ever level of 3.3%," he noted.

According to Medvedev, Russia demonstrates "development in all sectors of its economy. "According to the State Statistics Service, industrial production in March 2023 grew by 1.2% on last year’s March and the growth amounted to 5.2% in April. The construction sector demonstrates impressive achievements as wells, with the construction scope increasing by 5.2% in 2022 alone," he went on.

The faming sector also demonstrated a ten-percent growth last year. "We meet practically all our demand in this sector and are active in terms of exports," he added.

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