Russian economy will be among the world's four largest by purchasing power, claims PutinBoasting vast natural resources, Russia's gross domestic product (GDP) rebounded sharply last year from a slump in 2022, but the growth relies heavily on state-funded arms and ammunition production.
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Russian President Vladimir Putin delivers his annual address to the Federal Assembly, in Moscow, Russia, February 29, 2024.
Credit: Reuters Photo
Moscow: President Vladimir Putin on Thursday said Russia's economy would soon be among the world's four largest in terms of purchasing power parity.
Boasting vast natural resources, Russia's gross domestic product (GDP) rebounded sharply last year from a slump in 2022, but the growth relies heavily on state-funded arms and ammunition production for the war in Ukraine, masking problems that are hampering an improvement in Russians' living standards.