Putin Maintains Russia's Economic Stability Despite Challenges

Russian President Putin (Photo: Doc. Kremlin)

JAKARTA - Russia has succeeded in maintaining economic stability in the face of unprecedented challenges.

This was stated by President Vladimir Putin. This was quoted by Antara, Saturday, June 17.

"A positive macroeconomic trend gains momentum and becomes more and more real," said Putin.

Russia's GDP could reach a growth rate of about 1.5 percent to 2.0 percent this year, which would allow the country to maintain its place among the world's leading economies, he said.

Inflation remains near its historical low of 2.9 percent and unemployment hit a record low of 3.3 percent, according to the Russian leader.

Meanwhile, many foreign brands have long sold products fully manufactured in Russia, Russia's de facto goods that only have foreign logos now continue to be supplied after the departure of brand owners and profits remain, Putin said.

He told the audience that Russia continues to pursue an open economy and will never take a path of self-isolation regardless of all difficulties.

On the other hand, we have expanded contact with reliable and responsible partners in the countries and regions that currently act as locomotives and global economic drivers. I want to repeat: this is the market of the future," he underlined.

The bad neo-colonial international system has disappeared, while the multipolar world order, on the other hand, is strengthened. This is an inevitable process, Putin added.

St. International Economic Forum Petersburg has been held annually in Russia's second-largest city since 1997, and the theme of this year's event, scheduled from Wednesday (14/6/2023) to Saturday (17/6/2023), is "The Sovereign Development as a Fair World Basis: Joint Power for Future Generation."