Putin speaks of positive growth of the Russian economy as the ruble strengthens


Putin speaks of positive growth in the Russian economy as the ruble strengthensCredit: Creative Commons

Russian President Vladimir Putin spoke about the country’s economy at a recent meeting, as reported in an official Kremlin press release on June 7.

Putin first began his address on the Russian economy by talking about the noticeable decline in industrial production in Russia, particularly in ferrous metallurgy, the automotive industry and oil refining.

Moving quickly to Russia’s positive growth, Putin said:

“When it comes to positive results, we all know very well that there is positive momentum in the agriculture and construction sectors.”

“These are the largest and most important sectors of our economy, employing millions of people, millions of specialists.”

“The growth and strengthening of these sectors is decisive for the development of entire regions and territories of the country, for the improvement of the quality of life of our citizens.”

Russia’s president also noted that unemployment rates had actually started to drop slightly after plunging to historic lows during the ongoing war with Ukraine.

He also said that inflation has been brought under control and the ruble has strengthened, which has eased the requirements for exporters.

The economic meeting was reportedly attended by Prime Minister Mikhail Mishustin, Head of the Presidential Administration Anton Vaino, First Deputy Prime Minister Andrey Belousov, First Deputy Head of the Presidential Administration Sergey Kirienko, Deputy Prime Minister Marat Khusnullin, presidential aide Maxim Oreshkin, economic development minister Maxim Reshetnikov, finance minister Anton Siluanov and central bank chairman Elvira Nabiullina.

Putin’s positive outlook on the “improvement” of the Russian economy comes just as Japan announces that it is preparing to introduce new sanctions against the Russian Agricultural Bank, the Moscow Credit Bank and the Bank Belarusian for development and reconstruction.


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