Putin believes Russia is on the winning side
The war of aggression against Ukraine is boosting Russia's economy. However, the country is also struggling with high interest rates and inflation. Nevertheless, Kremlin leader Putin sees himself on the road to success and is already dreaming of a new world order.
Russian President Vladimir Putin sees his country on the winning side in a changing world. Russia will develop into the new growth center, he said at the "Russia Calling" investor conference in Moscow. "Today, the gross domestic product is already higher than before the Western sanctions were imposed," he said, referring to the punitive measures adopted by the West in 2022 following the attack on Ukraine.
Putin spoke of a coming new world order and emphasized Russia's willingness to cooperate with China in all areas, including the military. "The world has entered an era of radical changes and serious challenges," said Putin. "Only a strong, stable and - I emphasize - sovereign country will be able to successfully survive this phase and become one of the growth centers of the new world economy."
He praised the resilience of the economy and state finances. The sanctions imposed by the West had had no significant impact. The President described the Western financial system as outdated. "It has rested on its laurels and gotten used to monopolies and exclusivity, the lack of real alternatives and the habit of not changing anything for so long that it is becoming archaic."
Russia's economy has been boosted by a sharp increase in defense spending and war-related production. However, the country is struggling with high interest rates, which are due to be raised to 16 percent next week. High inflation and labor shortages are also hampering the economy.
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Despite the economic challenges such as high interest rates and inflation, Putin remains optimistic about Russia's economic situation, attributing the growth to the boost from the war of aggression against Ukraine and increased defense spending. He further emphasizes Russia's role as a future growth center in the changing global order.
Source: www.ntv.de
