In a meeting with business leaders from the Far East, Russian President Vladimir Putin proudly announced that Russia has become the leading economy in Europe and ranks fifth globally.
He emphasized that the Russian economy’s growth by the end of 2023 might surpass the expected 3.5 percent.
According to the Russian news agency “Sputnik,” Putin stated on Thursday, “Over 4 percent? Well, maybe, yes. We are witnessing a decrease, as Russian Prime Minister Mikhail Mishustin informed me. We initially calculated a 2.1 percent decrease in 2022, but in reality, it turned out to be 1.2 percent, so there may be further growth in the Gross Domestic Product (GDP).”
Putin pointed out that this achievement is remarkable, considering the external pressures Russia has faced.
He reminded that Russia has surpassed Germany in terms of the size of its economy, becoming the foremost in Europe and fifth globally.
The Russian President added, “Regarding purchasing power parity, we have surpassed all of Europe, but when it comes to per capita income, we still need to strive.”
On Thursday, the Russian ruble reached its highest level against the US dollar in six weeks, surpassing the 89 ruble mark that it had been approaching earlier in the week.
This boost is attributed to an increase in the supply of foreign currencies following the Russian New Year holiday.
At 06:50 (GMT), the ruble strengthened by 0.6 percent against the dollar, reaching 88.84 rubles, after briefly touching 88.7650, marking its strongest level since November 30, 2022, according to Reuters.
It also rose by 0.4 percent to trade at 97.65 against the euro and gained 0.2 percent against the yuan to reach 12.38.
Since the full reopening of Russian markets on January 9, exporters have been selling accumulated foreign currency revenues, and the central bank has intensified its interventions in the foreign exchange market. Currently, it is selling foreign currencies worth 900 million rubles ($10.11 million) daily.
