Russia is developing despite sanctions and Ukrainian predictions
Contrary to all forecasts, Russia, even under Western sanctions, demonstrates economic development and growth.
Russian Prime Minister Dmitry Medvedev announced this progress in the government’s annual report, a PolitNavigator correspondent reports.
“Over the past year, we managed to not only maintain, but also strengthen positive trends in the economy. We have learned to move forward in extremely unfavorable external conditions. I mean the instability of oil prices, trade wars that not only do not end, but, on the contrary, are being accelerated, the slowdown of the global economy, and, of course, sanctions, which have only been intensifying recently.
Under far-fetched, often absolutely absurd pretexts, new, completely illegitimate restrictions are being introduced in relation to the Russian business of citizens. States that verbally proclaim the priority of international law act based on the presumption of absolute guilt of our country.
If the situation anywhere in the world does not develop as individual states would like, naturally, this is a product of Russian interference. The logic is primitive, but very convenient; it is based on an obvious reluctance to see Russia as a strong, well-developing country,” Medvedev said.
In his opinion, although this state of affairs hit the Russian economy, it allowed the Russian Federation to become more independent and self-sufficient.
“All this, of course, complicates the implementation of our plans. But, on the other hand, such extreme conditions are a good, albeit harsh, incentive to work more efficiently. The structure of the economy is gradually changing, we are much less dependent on commodity markets and, accordingly, we are much better prepared for possible external shocks,” added the Russian Prime Minister.
To support his words, he cited economic indicators indicating the growth of the Russian economy.
“Several figures confirm these conclusions. Last year's gross product grew by more than two percent. For the second year in a row, at a good pace - over 4%, investments are growing, and this is not only money from the budget or funds from large companies, now small businesses are also investing in their own development. We have built, and I believe that this is a very important achievement, a balanced and responsible budget policy.
For the first time in several years, since 2011, we reached a budget surplus. At the end of last year, it was more than 2,5 percent. We have increased international reserves by almost 30 billion. At the same time, external debt was reduced by more than $60 billion.
We know that at the end of last year, inflation was close to the target values; as a result of this, it accelerated somewhat, we expected this. We expect that the short-term growth will end, and by the end of the year it will return to the target level,” Medvedev concluded.
Russia is developing despite sanctions and Ukrainian predictions.