Russia, economy continues to recover despite sanctions

The Russian economy continues to recover despite sanctions, GDP growth for the first five months of 2023 was 0.6 percent. "The country's economy continues to recover, I would even say confidently, despite sanctions and all the obstacles placed on our country." So Russian Premier Mikhail Mishustin.

Just now, as I was preparing for [a meeting with] you, I looked at the data-for the [first] five months of the year our GDP growth was 0.6 percent. But, very importantly, May on May is 5.4 percent," he said. Mishustin reports that the government is confident that, absent force majeure circumstances, GDP growth can exceed 2 percent by the end of the year. The prime minister also cited low unemployment and inflation rates as signs of a healthy Russian economy, noting that unemployment is around 3.1 percent and inflation is below 5 percent year-on-year.