At 12:00 PM local time in Moscow, Russian President Vladimir Putin held a significant press conference, delivering a major speech to the Russian population and responding to questions from Russian citizens.
During the conference, President Putin made several statements, and within minutes, he declared, "The existence of Russia without sovereignty is impossible." This statement emphasizes the Russian government's stance on maintaining its sovereignty amidst ongoing international tensions.
Furthermore, Putin announced, "The main indicator of the economy is the expected GDP growth of 3.5%. Russia has recovered from the fall and has taken a step forward. The country has seen an increase in inflation," Putin states at the press conference, which Dagens.com is following.
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This assertion of economic resilience and growth comes at a time when Russia faces numerous challenges, including Western sanctions and the geopolitical fallout from its actions in Ukraine.
However, these claims contrast with recent information from the Financial Times and assessments from international economic experts. Western sanctions and the Russian government's political response to the conflict in Ukraine have significantly impacted Russia's economy. Rachel Lyngaas, the chief of economic sanctions at the U.S. Treasury Department, noted that Russia has attempted to downplay the economic effects of the war in Ukraine.
Analyses suggest that Russia's economy would have been five percent larger today had it not invaded Ukraine. The economic impact is visible in the rapidly increasing expenses, the devaluation of the ruble, rising inflation, and a labor market strained by the loss of workforce. These factors paint a different picture of the Russian economy, one that is at odds with President Putin's optimistic portrayal during the press conference.
As the situation continues to evolve, the international community remains watchful of Russia's economic and political maneuvers in the face of ongoing sanctions and geopolitical challenges.
Dagens.com is following the press conference and providing continuous updates.
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