Russia’s economy is “withstanding the impact of sanctions”, President Vladimir Putin said on Monday, despite the unfavorable economic outlook for the country after the invasion of Ukraine on February 24.
“Despite all the difficulties, the Russian economy is bearing the brunt of the sanctions, and holding up very well,” the Russian head of state said at a meeting with Belarusian President Alexander Lukashenko in the Black Sea resort town of Sochi. .
“This is in line with all the main macroeconomic indicators,” he added.
“Yes, it’s not easy. Everything that happens requires special attention from the government’s economic bloc. Overall, these efforts are having a positive effect,” added the Russian president.
Russia’s Central Bank pointed out in late April that the country’s economy is expected to shrink by 8-10% in 2022, noting a decline in economic activity in March following the imposition of international sanctions on Russia. Earlier in the same month, the World Bank predicted that Russian GDP would shrink by 11.2% in 2022.
Source: CNN Brasil
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