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Economic growth rate in Russia is quite stable — Putin

The president also drew attention to the fact that "several months in the middle of last year were extremely difficult for Russian entrepreneurs and companies"

MOSCOW, August 22. /TASS/. The pace of economic growth in the country is quite stable, according to the results of 2022, Russia entered the top five largest economies in the world and overtook Germany in terms of purchasing power parity and in terms of economic volume. Russian President Vladimir Putin stated this at the Council for Strategic Development and National Projects.

"According to the results of 2022, Russia <...> entered the top five largest economies in the world," the head of state said. "According to the World Bank, the Russian Federation has taken the lead, overtaken the Federal Republic of Germany in terms of purchasing power parity, in terms of economic volume," he said.

The President also drew attention to the fact that "several months in the middle of last year were extremely difficult for Russian entrepreneurs and companies."

"But since the third quarter, there has been economic growth in Russia, and now its pace is quite stable," he stressed.

In this regard, Putin drew attention to the fact that in the second quarter of this year, the GDP grew by 4.9% compared to the same period last year. "Moreover, industries not related to the extraction of natural resources, including oil and gas, are growing at a faster pace," the head of state noted.

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