The Russian President recently reiterated the newfound economic strength of the country as it is now fast becoming a force to reckon with on the global scene. This would be during the Indore program, Year in Review with Vladimir Putin, aired by Channel One.
In that program, he puts forth the point that Russia would now account as the maximum economy in Europe with respect to purchasing power parity and as the fourth internationally beyond China, the United States, and India.
According to Putin, international institutions have recognized advancements in Russia's economy, both of which recently surpassed Germany and Japan.
To reporters, he said, "International financial and economic institutions have recognized Russia as the leading economy in Europe in terms of volume and purchasing power parity." "Globally, we rank fourth, following China, the United States, and India."
The president emphasized the very foundation for economic steadiness, associating it with the standard of living, defense capacity, and the entire national resilience, even having their upper hand. The president mentioned that this external challenge is countered with very good economic growth.
Putin revealed the fact that last year's growth stood at the level of 3.6 per cent. This percentage increases potentially to 3.9 or maybe even 4 percent in 2024, marking a compound growth of around 8 percent over a two-year time.
"Last year's economic growth was 3.6 percent, and this year it's expected to be 3.9 percent or above. The final estimates will become clear early next year. This development reflects the resilience of our economy," he added.
This growth of approximately 8 percent over two years demonstrates the robustness of most segments of our economy.
He also addressed the claims made in the West regarding Russia's military advances during the program, especially with regard to the missile system dubbed "Oreshnik." He said, in reaction to criticism about the missile being a copy of a Western design and that it had not been fully tested:
In a provocative statement, Putin suggested a direct test of the missile’s effectiveness against advanced Western air and missile defence systems, particularly in Kyiv.
“Let them concentrate all their air and missile defence systems in one location, and we will conduct a strike with the Oreshnik to see its effectiveness. We are ready for such an experiment. The question is whether the other side is prepared,” he remarked.
Putin has put his faith in the military and technological progress of the country, proposing what he calls a "technological duel" between the United States and Russia. He explained that such an experiment would give important insights to both countries about the capabilities of their respective defence systems.
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