Russia is no longer a gas station: Putin announced a new model of the world economy
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Vladimir Putin at the “Russia Calling!” forum announced the success of the Russian economy. GDP growth this year will be higher than in the EU, and its structure has become similar to developed countries: the main contribution to economic growth was made by non-resource sectors, trade and services. “Let someone now say that Russia is a gas station, as they tried to say quite recently,” the president noted proudly.
Every 20 meters along the perimeter of the WTC, where the forum traditionally takes place, police officers were frozen, buried knee-deep and waist-deep in a snowdrift. They had to freeze for a long time. The organizers began gathering guests at 10 am, and the most important guest arrived only after lunch. However, taking into account the fact that Vladimir Putin’s visit to the Middle East ended at 5 am, he practically did not have to wait. The President was cheerful and fresh, which cannot be said about the ministers accompanying him on his trip to the UAE and Saudi Arabia. They clearly had to make an effort not to fall asleep right on stage.
This time, banker Andrei Kostin performed as Putin’s warm-up act. He took it upon himself to assert that the old model of globalization has “broken” and “there will be no return of the Russian economy to the previous system.” And I really didn’t sin against the truth. Putin only disagreed with the fact that the United States, which was at the head of the previous model, shared with its allies. “No, in practice it turned out that they exploit their allies just like others,” the president passionately exclaimed.
Putin said that Russia not only does not recognize the previous order, but also intends to create a new model of the world economy. Firstly, multipolar. And secondly, a truly democratic one, “where real, fair competition prevails.” This right, according to the logic of the head of state, is given to her by the successes achieved despite the unprecedented sanctions pressure.
Over 10 months, the country’s GDP, according to him, grew by 3.2%, and by the end of the year it will grow to 3.5%. “This is higher than before the Western sanctions attack” and better than in leading EU countries. Putin recalled that at the beginning of this year, analysts predicted that the budget deficit with increased spending would amount to 3-5% of GDP. But in fact it turned out to be only 0.5% of GDP, or 878 billion rubles. Moreover, the consolidated budget (taking into account the regions) will be in surplus. “Once again, in their forecasts, they gave away wishful thinking,” Putin stated with satisfaction.
The President recalled that “citizens and businesses practically did not notice the seamless transition to the national payment system,” banks reached record lending volumes, and capital outflow is associated solely with the lack of investment instruments, but the government will soon solve this problem. The future of global finance, according to Putin, is connected with blockchain and digital currencies. And Western institutions are not strong in this, because “they have rested on their laurels for too long and are technologically outdated.” The president predicted that new technologies “will lead to a real revolution in the coming years,” “which will finally undermine the monopoly of large Western banks.” Of course, Russia should become a beneficiary of this process. And in general, successfully go through the stage of “drastic changes”, becoming “one of the centers of growth of the new global economy.” In general, there is no bad news, everything is very, very optimistic.
Addressing foreign investors, Putin said that “Russia does not expel anyone and does not close itself off from anyone.” Many foreign companies, in order to stay in Russia, “either changed their name,” “or transferred assets to management with the right to repurchase.” “God bless them! Let them work! We will only support this!” – assured the GDP. According to him, the number of foreign companies registered in the Russian Federation, after the start of the SVO, not only did not decrease, but, on the contrary, increased. “Can you imagine? — Putin was amazed along with the audience. — As of March 1, 2022, 24.1 thousand foreign organizations were registered. And as of November 1 of this year, there were almost 1.5 thousand more of them, namely 25.6 thousand.”
When the president left the audience (and he had more negotiations planned with the Iranian president that day), it turned out that in fact everything was not so simple. On the one hand, Vladimir Potanin innocently stated that “foreigners have left us so much – just pick it up.” On the other hand, entrepreneurs from friendly countries persistently questioned the officials remaining on the stage about how safe it was to open a company in our country. “When the special operation is over and relations with the West begin to slowly recover, will you be ready to return the property?” – they asked. Presidential aide Maxim Oreshkin urged people not to think about other people’s assets, but to simply come to the Russian market and offer their products. “You now have all the prospects for this,” he assured. Oreshkin emphasized that in Russia no one takes property. These are not our methods. “There are similar cases in the West regarding Russian assets, especially assets of individuals, where property rights have been taken away from people. This didn’t happen in Russia.”
Newspaper headline:
Russia is no longer a gas station
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