The Russian economy has successfully weathered unprecedented sanctions, outperforming the nations that imposed them, Prime Minister Mikhail Mishustin stated during a meeting with President Vladimir Putin.
"Our economy has effectively handled the unprecedented pressure of sanctions, unlike many of the countries that introduced them against us. In several cases, their own economies are on the brink of stagnation," Mishustin noted.
He highlighted that the Russian economy has been demonstrating steady and dynamic growth for the second consecutive year.
Mishustin acknowledged President Putin's active involvement in addressing economic challenges, citing numerous sector-specific meetings that helped guide the government’s efforts. "As a result, we developed and implemented a series of measures, involving experts, the scientific community, and, most importantly, the hard work of our businesses and citizens," he added.
Discussing the factors behind the growth, Mishustin emphasized that Russia's GDP expansion has been supported by strong investment and consumer activity.
"Manufacturing has been the driving force, growing by 8.5%. Initial forecasts were far less optimistic," he stated, stressing the government’s focus on this sector. "Manufacturing provides much higher value-added benefits compared to raw material exports, and the statistics show these efforts are yielding results. The economy is becoming more technologically advanced and diversified, which positively impacts macroeconomic stability and overall conditions," Mishustin explained.
He concluded that this progress will enable Russia to confidently tackle medium- and long-term objectives in the future.
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Based on materials from TASS