Putin assures that the Russian economy is growing faster than the world average despite sanctions

The president of Russia, Vladimir Putinassured this Friday that the Russian economy is growing faster than the world average despite all the sanctions imposed on the country due to the war in Ukraine.

“Last year, Russia’s GDP growth was 3.6%, and in the first quarter of this year – 5.4%. That is, the growth rate exceeds the world average,” said the head of the Kremlin during the plenary session of the St. Petersburg Economic Forum.

Putin assured that despite the restrictions imposed on Moscow, the country remains an important player in world trade.

“Despite all obstacles and illegitimate sanctions, Russia remains one of the key players in global trade and is actively developing the logistics and geography of cooperation,” he noted.

In this sense, he specified that currently three quarters of the commercial exchange falls on “friendly countries”, that they have not sanctioned Russia.

These are mainly Asian countries, with which trade increased by 60%.

It also increased by 40% trade with middle East and in the same amount with Latin America.

In addition, Russia actively develops its ties with the African continentwhich is reflected in the 69% increase in its exchange with countries in the region.

To protect trade with its partners from foreign restrictions, Russia is considering creating a new payment system together with the group’s countries BRICSwhich also include giants such as China and Brazil.

“Through BRICS we are working on the creation of an independent payment system that is not subject to political pressure, abuses and external sanctions,” he stated.