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Putin: I am sure that, despite the sanctions, the Russian economy has a bright future

Despite sanctions imposed by the West, Russian President Vladimir Putin said he was optimistic about the country’s economic prospects.

“I’m sure Russia has a bright future,” Putin said Friday during a televised meeting with representatives of the Delovaya Rossiya trade association. The Kremlin host stressed that there remained insurmountable economic problems, but that supply chains would slowly get back on track. “It’s wonderful,” Putin said.

Last year, Russia’s economy suffered a downturn as the country faced stiff sanctions for its outright invasion of Ukraine and an exodus of Western companies from its market. Nevertheless, V. Putin argued that the withdrawal of Western companies from Russia did not become a defeat, because there was room for local manufacturers.

After the invasion of Ukraine, the Russian government formed a special commission to regulate the sale of property owned by foreign investors. Since then, a number of deals have been made in Russia, whereby Western companies have sold their assets in the country at a reduced price. V. Putin explained on Friday that he did not want companies that left the Russian market to be “rewarded with capital”.

Source: The Delfi





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