Posted: 29.02.2024 18:00:17

Putin: Russia surpassed G7 in terms of economic growth in 2023

Last year, Russia outperformed all the G7 countries in terms of economic growth – as stated by Russian President Vladimir Putin in the State of the Nation Address to the Federal Assembly, the text is published on the Kremlin's website


“Last year, the Russian economy grew at a pace higher than the global one. According to this indicator, we are ahead not only of the leading countries of the European Union, but also of all the G7 states,” Vladimir Putin noted. 

According to the President, a huge role in this process was played by ‘the fundamental margin of safety that has been made over the past decades’.

“Today, the share of non-primary industries in the growth structure confidently exceeds 90 per cent, that is, the economy is becoming more complex, technologically advanced, and therefore much more stable. Today, Russia is the largest economy in Europe and the fifth in the world in terms of gross domestic product and purchasing power parity,” Vladimir Putin added.