Russian economy proves resilient despite Western sanctions: Putin

MOSCOW, Feb. 21 (Xinhua) — The Russian economy has withstood Western sanctions and is performing “much stronger than the West believed,” President Vladimir Putin said on Tuesday.

“We have ensured the stability of the economic situation, protected our citizens, saved jobs, prevented shortages in markets, including essential goods, supported the financial system and entrepreneurs,” Putin said in his annual speech to the Bundestag. ‘ said.

According to the latest data, Russia’s GDP will contract by 2.1% in 2022, outpacing the 20-25% recession Western analysts predicted early last year, he said.

The share of rubles in international payments in Russia has doubled compared to December 2021. Putin said Russia will work with partners to form a stable, secure global payment system independent of the US dollar and other Western currencies.

“The initiators of the sanctions are punishing themselves. They are fueling inflation, job losses, business closures and energy crises in their country. We are telling the public that there are,” he said.