State Duma declares Russia to become Europe's largest economy
(Baonghean.vn) - The spokesman for 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 to build a self-reliant and dynamic economy, it is necessary to support domestic producers, 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 over the past year the entire business structure in Russia had to be redrawn. However, the 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 between 1.5 and 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.
