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Russian President Vladimir Putin's address to the Federal Assembly

Russia’s GDP contraction totals 2.1% in 2022 though West projected 20% fall, says Putin

"Russian business has adjusted the logistics, fortified ties with responsible, predictable partners," the Russian leader noted

© Sergei Karpukhin/TASS

MOSCOW, February 21. /TASS/. Russia’s GDP contraction totaled 2.1% in 2022 despite the West’s projections of a 20% fall, Russian President Vladimir Putin said in his State of the Nation Address to the Federal Assembly on Tuesday.

"GDP contracted by 2.1% in 2022, according to the latest numbers. Meanwhile, I should note that last February or March an economic meltdown was projected," he said, adding that the West projected an economic fall by 20-25%.

"Russian business has adjusted the logistics, fortified ties with responsible, predictable partners," Putin noted.

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