State Duma declares Russia to become Europe's largest economy
(Baonghean.vn) - The spokesman of the Russian State Duma declared that the country has become the largest economy in Europe, despite the "storm" of sanctions from the West.
Russia has become the largest economy in Europe over the past 10 years, despite more than 17,500 sanctions, said State Duma spokesman Vyacheslav Volodin. Russia is among the top 5 economies in the world.
“The sanctions hit Russia, but they also hit the initiators like a boomerang. The US lost its leadership role in the world economy, while European countries suffered even more,” said Vyacheslav Volodin.
The Russian State Duma spokesman pointed out that in order to build a self-reliant and dynamic economy, it is necessary to support domestic manufacturers, strengthen technological sovereignty, and create new modern industrial capacity.
According to Mr. Vododin, the most important thing is to build an effective dialogue mechanism with representatives of the business community.
“We plan to hold extended parliamentary hearings on the development of small and medium-sized enterprises in October,” the State Duma spokesman said.
In June this year, at the St. Petersburg International Economic Forum, Russian President Vladimir Putin announced that the entire business structure in Russia had been forced to redraw over the past year. However, current economic figures show that the strategy chosen by the State has worked. And Russia is moving towards a “supply-side” economy.
Russia's economy is forecast to grow by 1.5 to 2 percent this year, higher than the International Monetary Fund's (IMF) forecast of 0.7 percent and higher than the eurozone's forecast economic growth of 1.1 percent.
