Russia is in the top 5 largest economies in the world

Russian President Vladimir Putin said that Russia would enter the top 5 largest economies in the world, in terms of purchasing power parity (PPP) by 2022.

The Russian government also maintained a positive outlook for the economy. (Source: Bloomberg)

On August 22, Ria Novosti quoted President Putin as saying: "Despite pessimistic forecasts, mainly by Western experts, Russia will be among the top 5 largest economies in the world by the end of 2022."

According to World Bank (WB) data, the Gross Domestic Product (GDP) calculated by PPP of the world's five largest economies in 2022 are China, the US, India, Japan and Russia, respectively.

In terms of nominal GDP, Russia is the 8th largest economy; after the US, China, Japan, Germany, India, the UK and France.

The head of Russia assessed that the country's economy is growing steadily, despite the West's isolation measures. And Russia's industries are developing rapidly.

Russia's state statistics agency confirmed that the country's GDP increased by 4.9% in the second quarter of 2023 compared to the same period last year. This is the first time in a year that the Russian economy has recorded growth.

The World Bank and the International Monetary Fund (IMF) have both recently raised their forecasts for the Russian economy, saying that GDP will continue to grow despite sanctions, thanks to strong trade and industrial production as well as higher-than-expected energy revenues.

The Russian government also maintains a positive outlook for the economy. Russian Prime Minister Mikhail Mishustin predicts that by 2024, the country will be able to surpass developed countries in economic growth.

Source: https://baoquocte.vn/tong-thong-putin-nga-lot-top-5-nen-kinh-te-lon-nhat-the-gioi-239471.html