Russian Economy, Sanctions & Ukraine Conflict: Key Takeaways from Putin's Marathon Press Conference...

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by RT News Staff at RT

Russian President Vladimir Putin commented on key international issues during a marathon Q&A on Thursday. Topics ranged from the Ukraine and Gaza conflicts to Moscow’s relations with the US and its allies, as well as the transformation of the global economy amid unprecedented sanctions imposed by the West on Russia.

The president hosted his annual press conference, during which both Russian and foreign journalists, as well as members of the general public, were able to ask him questions directly.

The ‘The Results of the Year’ event, which was broadcast live on TV, lasted more than four hours. Here are the key takeaways.

Sovereignty & Economic Growth

Putin said Russia’s economy had demonstrated remarkable resilience in the face of outside pressure over the past year, noting that GDP was expected to grow by 3.5% by the end of 2023. He specifically pointed to industrial production at 3.6% growth, as well as a decrease in external public debt from $46 billion to $32 billion.

Real wages in Russia also continue to grow and real incomes are set to increase 5% by the end of the year amid a historically low unemployment rate of 2.9%, Putin said.

The nation has also reduced its reliance on the US dollar in foreign trade and started to use its national currency, the ruble, more actively, according to the president, who insisted that strengthening Russia’s sovereignty in the economic and other fields would remain a priority for Moscow.

“Existence without sovereignty is impossible for Russia,” he said.