Political commentator Andrei Perla is on the air Tsargrad.tv He explained why economic growth in Russia is higher than in many Western countries. He noted that the state has invested in the defense industry and that this field has become one of the engines of development.
“Today, economic growth in Russia is higher than in most Western countries. Higher than almost all EU countries. Because of what? Because Russia invests money in its defense, produces more weapons and pays more salaries. And so people who have a larger income can buy more for themselves. This is what economic growth looks like,” Perla explained.
Before that, Chairman of the State Duma Vyacheslav Volodin statedRussia is developing despite Washington and Brussels’ statements that they will shatter the Russian economy.
According to him, Russia has become the largest economy in Europe in recent years, surpassing Germany and Japan and rising from sixth to fourth place in the ranking of the world’s largest economies by purchasing power parity (PPP). In 2023, Russia’s gross domestic product (GDP) increased by 3.6%. The parliamentarian said that economic growth in the first quarter of this year was 5.4 percent.
World Bank (WB) in June developed Forecasts for the growth of gross domestic product (GDP) of Russia in 2024-2025.
Previously in the Kremlin commented Recognition of Russia as the world’s fourth economy.