The Russian government has managed to prevent the economy from slipping into a recession, said Russian President Vladimir Putin at a BRICS summit in Brazil, TASS reports.
While speaking to participants of a BRICS forum, the Russian leader commented that the global economic situation remains difficult. “The use of unscrupulous competition in global trade has also had an effect: unilateral sanctions, protectionism is rife,” Putin observed.
“In Russia for many years we have been pursuing a balanced macroeconomic policy, treating state finances responsibly, supporting the stability of the banking and credit markets. We are striving to help strengthen the key sectors of the economy. Thanks to this, we have managed to avoid slipping into a recession,” the Russian president added.
However, Putin said that Russia’s leaders are not satisfied with the current economic growth rates. For this reason, he said, the Russian government is trying to create comfortable conditions for new capital investments. “We are working persistently to simplify the regulatory norms, we are building modern infrastructure.”
Putin said that by the end of the 1st quarter, the amount of foreign investments in Russia’s Federal Loan Bonds (OFZs) had grown by $4 billion.
(C)UAWIRE 2019
That thing has no concept of economics. We’ll just add that to all the other things it has no clue about except warmongering, kiddie-fiddling, terrorism and murder.
It sounds to me like he is basically admitting that the sanctions against Muskovia for his imperialistic fascism is causing a recession. He can put lipstick on it but it is still a recession and the future will look worse too because the US is now #1 in gas and oil production and moving in on their old targets.
“The use of unscrupulous competition in global trade has also had an effect: unilateral sanctions, protectionism is rife”
Other than in mafia land, where theft of neighbors’ territories, warmongering, and oppression are rife.
In 2008 he promised too double Russians GDP in 2020. He achieved only 9% in this time.