Russian President Vladimir Putin considered today, Thursday, that the decline in Russia’s public debt is a good indicator, especially when compared to other countries, including developed countries.
Putin said in a meeting with Russian Minister of Economic Development Maxim Reshetnikov on the current situation of the Russian economy: “14.9% in Russia (public debt-to-GDP ratio), in the United States the index is at 121.7%, in the euro area it is 90.9%, and in Germany it is 66.5%, In France, at 111.1%, our public debt is at a good level.”
For his part, the Russian Minister of Economic Development indicated that by the end of 2023 Russia will be among the leading countries in terms of economic growth.
Reshetnikov said that the Russian economy is expected to grow this year 2023 by 1.2%.
Earlier, the International Monetary Fund praised the performance of the Russian economy in the face of sanctions, and said: “It turned out that the Russian economy has become more resilient than expected at the beginning of last year after the imposition of Western sanctions.”
Fund experts explained that the unexpectedly strong results in 2022 are due to the stability of oil exports, in light of its high prices and the continuation of supplies, as the oil and gas industry recorded record profits.
This article was originally published by RT.