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| Russian GDP growth to hit 3.5% – Putin | Russian GDP growth to hit 3.5% – Putin |
| (32 minutes later) | |
| The president has praised the country’s economic performance in his annual address | The president has praised the country’s economic performance in his annual address |
| The Russian economy has shown strength and stability in the face of outside pressure, with GDP expected to reach 3.5% this year, President Vladimir Putin stated on Thursday. | The Russian economy has shown strength and stability in the face of outside pressure, with GDP expected to reach 3.5% this year, President Vladimir Putin stated on Thursday. |
| According to Putin, who is holding his annual press conference in Moscow, the economy has recovered from last year’s decline and is moving forward. | According to Putin, who is holding his annual press conference in Moscow, the economy has recovered from last year’s decline and is moving forward. |
| There are challenges still facing the Russian economy, according to the president, with inflation expected to accelerate to 8% by the end of the year. “But the central bank and the government are taking measures to return it to target levels,” Putin stated. | There are challenges still facing the Russian economy, according to the president, with inflation expected to accelerate to 8% by the end of the year. “But the central bank and the government are taking measures to return it to target levels,” Putin stated. |
| The president noted the confident growth of industrial production, at 3.6%. “What is particularly pleasing is that the manufacturing industry is growing,” he said. | The president noted the confident growth of industrial production, at 3.6%. “What is particularly pleasing is that the manufacturing industry is growing,” he said. |
| According to Putin, Russia’s external public debt has decreased from $46 billion to $32 billion. Private companies are also paying off their debts on time, he added. | According to Putin, Russia’s external public debt has decreased from $46 billion to $32 billion. Private companies are also paying off their debts on time, he added. |
| The Russian leader also noted that unemployment in Russia dropped to a historic low of 2.9%. “This has never happened in the history of Russia. This a very good indicator of the state of the economy.” | The Russian leader also noted that unemployment in Russia dropped to a historic low of 2.9%. “This has never happened in the history of Russia. This a very good indicator of the state of the economy.” |
| Real wages in Russia will continue to grow to the end of 2023, increasing approximately 8%, while the growth of real incomes of the population will be at around 5% by the end of the year, according to Putin. | Real wages in Russia will continue to grow to the end of 2023, increasing approximately 8%, while the growth of real incomes of the population will be at around 5% by the end of the year, according to Putin. |
| The president also spoke about the increase in the minimum wage in Russia from the beginning of 2024. “When I talked about increasing real incomes, I must mention, of course, that from January 1, we will have the minimum wage increased by 18%,” noting that such indexations don't happen often enough. | |
| The Russian president is hosting his annual press conference on live TV, during which both journalists and the general public can ask him questions. The two-in-one event, called ‘Results of the Year’, combines Putin’s annual press conference and his Q&A session with the people, which are usually held separately. | |
| For more stories on economy & finance visit RT's business section |