{"id":32477,"date":"2024-06-28T17:50:00","date_gmt":"2024-06-28T21:50:00","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/world\/russian-economy-growing-by-5\/28\/06\/2024\/"},"modified":"2024-06-28T17:50:00","modified_gmt":"2024-06-28T21:50:00","slug":"russian-economy-growing-by-5","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/world\/russian-economy-growing-by-5\/28\/06\/2024\/","title":{"rendered":"Russian economy growing by 5%"},"content":{"rendered":"
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Russian President Vladimir Putin delivers a speech at the St. Petersburg International Economic Forum in St. Petersburg. -\/Kremlin\/dpa<\/figcaption><\/p>\n<\/figure>\n
The Russian economy is growing by around 5%, based on the increase in gross domestic product (GDP) over the first half, Russian President Vladimir Putin said on Friday according to the Interfax news agency.<\/p>\n
“We will see what the first half brings, but something around 5% growth for the country’s GDP,” Putin said at a gathering of university graduates.<\/p>\n
Western sanctions have in fact failed to put a brake on the Russian economy. According to the Rosstat statistical office, GDP rose by 5.4% in the first quarter.<\/p>\n
The growth has been attributed primarily to a sharp rise in state expenditure on armaments and the military, with salaries and payments to the families of the fallen and injured boosting income to many families.<\/p>\n
Labour shortages are also leading to rising pay. Analysts have queried whether the trend is sustainable.<\/p>\n<\/div>\n