Russian President Vladimir Putin declared that industrial production had increased to last year’s levels after four months of decrease.
Putin made this statement during a discussion on economic concerns today, Thursday, and it was posted on the Kremlin website. He said that while inflation in Russia dropped to 13.5%, industries that export to Europe are still under pressure since the shift to other markets needs more time.
The Russian president further emphasised that nations that rejected Russian oil, gas, and mineral supplies are now have to pay higher prices for those resources. He also noted that sanctions against Russia will be reinforced, which calls for flexible economic responses.
Although there are encouraging signs in the agricultural and construction sectors, as well as the car and mining industries, Putin pointed out that demand in Russia is still weak and needs more attention.
Putin: Industrial production in Russia is back to where it was last year.
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