Putin: Russia’s economy begins to develop according to a new model
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Russian President Vladimir Putin arrived at the Moscow International House of Music to attend the annual congress of the Russian Union of Industrialists and Entrepreneurs (RSPP). This is the first meeting of the head of state with leading Russian entrepreneurs since February 24, 2022.
Vladimir Putin said that the Russian economy is beginning to develop according to a new model. According to him, the country’s GDP growth is expected already in the second quarter. The head of state noted that Russia managed to compensate for the closure of Western markets and, in general, the foreign trade turnover of the Russian Federation increased by more than 8% last year. The trade surplus in 2022 amounted to $332 billion.
It is expected that by the end of March, inflation in Russia will be about 4%, the president said. The growth of retail trade, according to the president, will reach 5% in April, it is based on the stability of the labor market, lower inflation and higher wages.
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