Moscow
Despite unprecedented Western sanctions, Russian President Vladimir Putin has drawn an overall satisfactory economic balance from the past year – especially in comparison to Western industrialized nations. The gross domestic product (GDP) will grow by 3.9 percent in 2024, “maybe even four percent,” predicted the Kremlin boss at his combined annual press conference and public consultation. In the past two years, GDP has even increased by eight percent. During the same period, Germany showed zero percent growth, he said.
Putin acknowledged that there are problems in combating inflation. According to him, prices rose by 9.2 to 9.3 percent over the course of the year. In the case of food, for example, this is due to the fact that consumption has increased.
Economists are warning of a significant drop in growth rates in the coming year. In addition to high inflation, the Russian economy is also experiencing problems due to the very high key interest rate, which stands at 21 percent.
At the annual press conference and citizens' consultation, Putin traditionally commented on the country's most pressing problems. In addition to social and economic issues, questions about the war of aggression in Ukraine have also dominated question time since the beginning of the invasion ordered by Putin. The event, which lasts several hours, offers the Kremlin chief the chance to present himself as a caring person.
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