Kremlin sees Russian economy showing flamboyant growth

Business & Economy May 31, 14:54

Dmitry Peskov added that "there are certain macro-and microeconomic challenges, and ways to minimize risks are currently being looked at"

MOSCOW, May 31. /TASS/. The Russian economy is growing rapidly but still faces some challenges, Kremlin Spokesman Dmitry Peskov told reporters.

"Naturally, our economy is showing very positive growth rates, and the economy is developing rapidly, as the government and the economic bloc are making huge efforts to make this happen," the Russian presidential spokesman told reporters. However, he said, "there are certain macro-and microeconomic challenges, and ways to minimize risks are currently being looked at," he added.

"But on the whole, the economy is actually growing, and that’s a positive phenomenon," Peskov concluded.

This was his comment on the latest World Bank data showing that Russia’s economy stands as the world’s fourth largest by purchasing power, only trailing China, the United States and India.

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