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Russian President Vladimir Putin delivers a speech during a session of SPIEF'23 in Saint Petersburg, Russia, June 16, 2023. /Reuters
Russian President Vladimir Putin said Russia's economy may grow by up to 2 percent this year as it bounces back from last year's contraction in the face of sweeping Western sanctions.
Speaking at Russia's flagship economic forum in St. Petersburg, the Russian president said that "positive macroeconomic trends are gaining momentum ... in my opinion, and I agree with those of our experts who believe that growth will still be more, somewhere up to 1.5 percent, and maybe even under 2 percent."
Inflation and unemployment have hit historical low due to "a responsible, balanced budgetary and monetary policy," the Russian leader added.
On foreign businesses leaving Russia, Putin said Russia is not "closing the doors to anyone" if foreign manufacturers want to return again, and the country "will also create the necessary conditions for them to work in Russia."
(With input from Reuters)
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