Boris Titov, the Russian Presidential Commissioner for the Protection of Entrepreneurs’ Rights, explained why the harsher forecasts for the Russian economy did not materialize. This assessment was reported by RIA News.
According to the business ombudsman, the commonly held view for 2023 was largely negative. He noted that as each day passed, the situation appeared to deteriorate further, creating a sense of persistent malaise.
Yet the gloomy projections did not come to pass. Titov asserted that the economy today remains stable. He emphasized that despite ongoing sanctions, employment opportunities persisted, and he considered that continuity to be the primary achievement.
He added that Russia has recently learned to produce a wide range of goods and that the economy is undergoing a rapid restructuring by reducing reliance on imports in several key sectors.
The business ombudsman attributed these improvements to the country’s long-standing transition into a market-based system.
He argued that if Russia were not operating under market principles, it would have struggled to adapt as swiftly as it has to the current geopolitical challenges, an assertion he believes is evident today.
Titov acknowledged that there is still much work to be done and that the country remains behind in many areas where significant progress is needed.
Earlier, Russian President Vladimir Putin spoke about the resilience of the economy and the financial system in the face of Western sanctions. The remarks were noted in relation to the broader sense of stability and continued functioning of financial mechanisms during sanctions.
Gref has previously suggested that the economy could return to its prior scale within a two-year horizon, a projection that has framed discussions about the pace of recovery and the effectiveness of policy responses in the months ahead.