West failed to eject Russia from the global economy

New Delhi: Russian Prime Minister Mikhail Mishustin said on Wednesday at a meeting on the draft federal budget for the next three years said, “The US-led West has not managed to eject Russia from the global economy but they will obviously continue to push the country out of its usual markets,”

“Of course, the risks have not gone away. So far, the collective West has not managed to push our country out of the global economy, and their attempts have led to ultra-high prices on the world market, and to fears about how to endure the coming winter. However, it is obvious that they will continue to elbow us out of customary sales areas. This should be taken into account when drawing up plans for the future, not forgetting about our own strategic tasks,” the premier emphasized.

Mishustin noted that the West’s sanctions have essentially pursued two goals: to quickly destabilize Russia’s financial system and weaken its potential by disrupting economic ties and production chains.

“We did not let them shake up the Russian economy. The measures promptly implemented by the government and the Bank of Russia on behalf of the head of state made it possible to maintain financial stability in the country and contributed to the reformatting of many projects, while making it possible to support the most vulnerable groups of both businesses and citizens,” the Prime Minister added.

He spotlighted the fact that the dynamics of GDP and investment in Russia are better than expected, the unemployment rate is low, and inflation is gradually declining. But the most important thing is that there is a recovery of domestic demand, primarily consumer demand.

“For the mid-term, we need to strengthen all these positive trends. They formed the basis for forecasting the country’s socio-economic development. On this basis, a draft federal budget for the next three years is being prepared,” Mishustin said.

(Vinayak)