{"id":1480151,"date":"2024-02-03T17:09:34","date_gmt":"2024-02-03T17:09:34","guid":{"rendered":"https:\/\/dissidentvoice.org\/?p=147897"},"modified":"2024-02-03T17:09:34","modified_gmt":"2024-02-03T17:09:34","slug":"russian-economy-growing-faster-than-main-western-rivals-putin","status":"publish","type":"post","link":"https:\/\/radiofree.asia\/2024\/02\/03\/russian-economy-growing-faster-than-main-western-rivals-putin\/","title":{"rendered":"Russian Economy Growing Faster than Main Western Rivals \u2013 Putin"},"content":{"rendered":"\"Russian<\/picture>
\n\u00a9\u00a0<\/span> Sputnik\/Evgeny Biyatov<\/span><\/p>\n

The Russian economy keeps growing and has already become the largest in Europe and the fifth largest in the world in terms of purchasing power parity (PPP), President Vladimir Putin said while speaking at the \u2018Everything for Victory\u2019 forum in the city of Tula on Friday.<\/p>\n

PPP is a metric popular with many economists that compares economic productivity and standards of living between countries by adjusting for the differences in the cost of goods and services.<\/p>\n

According to the Russian leader, the country\u2019s economy has demonstrated stability, unlike those of the US and the EU, which are currently in decline. \u201cThe fundamental principles of the US\u2019 and EU\u2019s economies are good, they [economies] will rise, but today they are at the bottom, while we are rising,\u201d Putin said.<\/p>\n

According to the World Bank, in 2022 China was ahead of the US in terms of PPP, while India and Japan were a respective third and fourth. Russia rounded out the top five, while Germany was in sixth place. Meanwhile, Putin\u2019s top economic adviser, Maksim Oreshkin, said recently that Russia \u201cis already breathing down Japan\u2019s back in the race for fourth place.\u201d<\/p>\n

This week, the IMF significantly raised its growth forecast for the Russian economy, projecting that the country\u2019s GDP will grow by 2.6% this year. The estimate is a sharp increase from its October forecast of 1.1% growth. The forecast for 2025 was also increased by 0.1 percentage point from the October estimate, to 1.1%.<\/p>\n