ER Editor: The first tweet links to this TASS article —
“Russia is among the world’s four largest economies in terms of purchasing power parity,” the Russian Prime Minister stated …
On sanctions and international cooperation
Foreign sanctions against Russia’s energy sector failed to achieve their objectives, and the country “maintained its influence on the global market in this sector.”
The breadth of anti-Russia sanctions demonstrated that a robust industrial base is essential for economic stability, while “in strategic sectors, it is crucial to rely on domestic innovations.”
Russia and China have finalized talks on the draft of a new agreement on investment promotion and mutual protection.
Russia is introducing a range of support measures to facilitate international market access for domestic companies: “We have significantly modernized the legal framework governing operations with friendly countries. More than ten international agreements have been concluded. Assistance programs have been introduced for our companies seeking to expand exports.” …
The sanctions pressure on Russia has intensified in recent years, though the country’s economy continues to grow, Prime Minister Mikhail Mishustin said addressing the State Duma with a report: pic.twitter.com/2Q8iSBWzAa
— TASS (@tassagency_en) March 26, 2025
Russia’s economy is outpacing the global average for the second year in a row, with a 4.1% GDP growth in 2024, significantly surpassing developed countries — PM Mishustin pic.twitter.com/pIHLGrE9EM
— Ignorance, the root and stem of all evil (@ivan_8848) March 26, 2025
From 2023 –
Mishustin said that sanctions imposed by the West have accelerated the recovery of the domestic industry
Russia continues to strengthen its technological sovereignty. We have all the basic conditions to restore the status of a great scientific and technological power,”… pic.twitter.com/VXjk6wkLfA
— SIMPLICIUS Ѱ (@simpatico771) December 6, 2023
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Russia’s GDP exceeds $2.3tn in 2024, almost doubling in 4 years
AL MAYADEEN
Prime Minister Mikhail Mishustin stated that Russia’s GDP reached 200 trillion rubles ($2.3 trillion) in 2024, nearly doubling over the past four years.
Addressing the State Duma, he said, “GDP breached the 200 trillion rubles mark in nominal terms in 2024 for the first time, having almost doubled since 2020.”
“Domestic demand, both investment and consumer, fueled growth,” the premier said, adding that “fixed investment gained almost 7.5% in a year.”
On a related note, Russia’s crude oil exports have surged to their highest level in five months, even as US-led negotiations continue to broker a ceasefire in Ukraine.
According to recent data revealed on March 25, Russian crude oil flows from all ports rose to 3.45 million barrels per day in the four weeks ending March 23, marking the highest level since October 20. This increase came despite a weekly decline in shipments, primarily due to lower flows from the Baltic and Black seas.
Russian GDP grows by 5%
Last year, Mishustin announced on July 12 that the GDP of Russia has grown 5% in the first five months of the year – higher than expected.
During a meeting on economic issues, he said, “Today, we will discuss the current situation in the economy. The dynamics remains high – in May growth accelerated slightly compared to April to 4.5%.”
He added, “If we take the statistics for five months, the gross domestic product increased by 5% compared to the same period last year. This is significantly higher than forecasts, despite all attempts from outside to stop us.”
Mishustin revealed his belief that the data in the real sector of the economy are also positive as he stated that from January to May, the manufacturing sector grew by nearly 9%, citing machine building as one of the key factors in this area, “which showed double-digit growth rates.”
Source
Featured image source:
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