Latest news with #Европа
CTV News
3 days ago
- Business
- CTV News
Putin boasts about Russia's economy despite recession fears
Russian President Vladimir Putin speaks at a plenary session of the St. Petersburg International Economic Forum in St. Petersburg, Russia, Friday, June 20, 2025. (Vyacheslav Viktorov/ Roscongress Foundation via AP) ST. PETERSBURG, Russia — President Vladimir Putin on Friday hailed Russia's economic outlook, saying it has managed to curb inflation and ease its reliance on energy exports. His optimistic account in a speech at the St. Petersburg International Economic Forum contrasted with somber statements by some members of his government who warned at the same conference that Russia could face a recession. Economic Minister Maxim Reshetnikov had said Thursday that the country is 'on the brink of going into a recession.' Putin mentioned the recession warnings, but emphasized that 'it mustn't be allowed.' He pointed out that manufacturing industries have posted steady growth, allowing the country to reduce its reliance on oil and gas exports. 'The perception of Russian economy as based on raw materials and dependent on hydrocarbons exports have clearly become outdated,' Putin said, adding that the economy grew by 1.5% in the first four months of 2025 and inflation has dropped from double digits to 9.6%. Putin has used the annual forum to highlight Russia's economic prowess and encourage foreign investment, but Western executives have shunned it after Moscow sent troops into Ukraine in 2022, leaving it to business leaders from Asia, Africa and Latin America. The economy, hit with a slew of Western sanctions, has so far outperformed predictions. High defense spending has propelled growth and kept unemployment low despite fueling inflation. Large recruiting bonuses for military enlistees and death benefits for those killed in Ukraine also have put more income into the country's poorer regions. But over the long term, inflation and a lack of foreign investments pose threats to the economy. Economists have warned of mounting pressure on the economy and the likelihood it would stagnate due to lack of investment in sectors other than the military. Putin said the growth of military industries helped develop new technologies that have become available to the civilian sector. He vowed to continue military modernization, relying on lessons learned during the fighting in Ukraine. 'We will raise the capability of the Russian armed forces, modernize military infrastructure and equip the troops with cutting-edge equipment,' Putin said. The Associated Press
Al Arabiya
6 days ago
- Politics
- Al Arabiya
Russian air defenses repel two Ukrainian drones headed for Moscow: City's mayor
Russian air defense units repelled two Ukrainian drones headed for Moscow, the city's mayor said early on Tuesday. Sergei Sobyanin, writing on the Telegram messaging app, said emergency crews were examining fragments at sites where the drones fell. Ukraine and Russia have both sent waves of drones against a range of targets in recent weeks. Dozens of Ukrainian drones have targeted Moscow or the region surrounding the capital.
Yahoo
15-06-2025
- Business
- Yahoo
Russians struggle with 'crazy' prices
Russian pensioner Roman Paltievich stared at the prices for apricots, tomatoes and watermelons stacked high on stalls at a Moscow market -- foods that he now struggles to fit into his budget. "The prices are crazy," lamented the 84-year-old, who said he can no longer afford cherries -- or even potatoes, a staple that is now three times more expensive than a year ago. Russia's three-year-long military offensive on Ukraine has caused inflation to surge at home, a thorn in the side for the Kremlin, which strives to shield Russians from the fallout of its campaign. Western sanctions have disrupted supply chains and dozens of consumer brands have left the country, while inflation is now running above 10 percent. Meanwhile, deep labour shortages caused by massive recruitment by the army and arms manufacturers, have seen both salaries and prices jump higher. Russia's Central Bank last week cut interest rates from a two-decade high, saying inflation -- including food prices -- was starting to come under control. But for many hard-pressed Russians, it does not feel that way. Paltievich's wife, Tatyana, stood next to him clutching a small punnet of strawberries -- a precious treat for her grandchildren that set her back 400 rubles ($5). "We survived 1991, so now we're not afraid of anything," she said defiantly, in reference to the collapse of the Soviet Union and the economic chaos that followed. - Filling up the fridge - Many of those navigating the aisles at Moscow's Preobrazhensky market were also worried about high prices. "I came here to buy chicken for my granddaughter. It's more expensive in the supermarkets, so I don't buy there anymore," Nikolai Kucherov, a 62-year-old freelance artist told AFP. "I had to forget about travelling. For the past three or four years, I've only been thinking about filling up the fridge," he said. The Kremlin has hailed Russia's economic performance since it ordered its troops into Ukraine in February 2022. A huge surge in spending on the military has helped Moscow defy predictions that sanctions would collapse the Russian economy. Engineer Konstantin Zelenkov, 38, is one of those who have benefited from rising wages amid the government spending boom. "Some things are becoming more expensive but salaries are rising too, so it's staying roughly the same," he told AFP. Central bank chief Elvira Nabiullina has also pointed to rising wages and on Friday said inflation was starting to moderate, though it remains well above the institution's four percent target. "The high interest rate has led to a significant slowdown in inflation," she told reporters. Overall "the rate of increase in food prices has slowed", she added. But even Russian President Vladimir Putin was forced recently to address fears over a potato shortage that sent prices for the staple soaring. For many across Russia, price rises feel never-ending. "Starting even with bread, everything is getting more and more expensive," Irina Yakovleva, 68, said. "We just have to limit ourselves," she added. bur/djt/lth
Russia Today
06-06-2025
- Politics
- Russia Today
Putin backs global Russian language center
Russian President Vladimir Putin has said he fully backs the idea of creating a centralized organization to promote and support the use of the Russian language internationally. The idea was proposed by Nikita Gusev, the warden of the Pushkin State Russian Language Institute, during meeting of the State Council on language promotion. 'It is a good suggestion. I think it must certainly be considered,' Putin, who chaired the meeting, said. The president added that he would instruct his administration and the Russian government to look into the project and provide support for it. Putin said the authorities in Moscow are already working on promoting the Russian language abroad 'through various channels,' but that these activities would further benefit from the creation of 'a dedicated center.' 'We must work diligently to strengthen the position of the Russian language and to enhance Russia's significance in the global cultural space,' the president told the participants of the video-conference. The meeting took place on the eve of Russian Language Day, which is marked on June 6, the birthday of Aleksandr Pushkin, a 19th-century poet, novelist and playwright, considered the founder of modern Russian literature. 'One of the most effective ways to promote the Russian language and literature, both within our country and abroad, is through meaningful and wide-ranging celebrations of significant anniversaries linked to great Russian writers,' Putin stressed. According to the Pushkin Institute, Russian was the ninth most-widely used language in the world in 2014, with over 255 million people speaking it.
Yahoo
27-05-2025
- Business
- Yahoo
Putin Threatens to ‘Throttle' Big Tech Firms Like Zoom and Microsoft
Russian President Vladimir Putin said U.S. tech companies like Microsoft and Zoom should be 'strangled' and 'throttled' in his country, arguing that Russia should build domestic competitors instead. During a meeting with Russian company leaders to evaluate certain sectors and the domestic economy, a business leader expressed frustration to Putin that U.S. companies that have announced their exit from the country continue to operate. Microsoft said it was ending sales in the country in 2022 after Russia invaded Ukraine, and Russian lawmakers have railed against Zoom for years. 'We need to strangle them. I completely agree,' Putin said, according to Turkey's Anadolu Agency. 'I say this without any embarrassment, because they are trying to strangle us. We need to reciprocate.' Microsoft and Zoom did not respond to immediate requests for comment from The Daily Beast. Putin also attacked McDonald's, which also exited the nation after Russia began its war in Ukraine, saying the battle did not align with its core values. 'It is impossible to ignore the humanitarian crisis caused by the war in Ukraine,' McDonald's CEO Chris Kempczinski wrote at the time. 'And it is impossible to imagine the Golden Arches representing the same hope and promise that led us to enter the Russian market 32 years ago.' 'They put everyone in a difficult position, ran away, and now, if they want to come back, should we pave the way for them?' Putin said on Monday. 'Of course not.' McDonald's did not respond to an immediate request for comment. McDonald's reiterated its commitment to staying out of the country in a letter to a Ukrainian advocacy group last month. Putin also lamented that Western companies that left due to 'political pressures' have hurt Russian businesses. 'Some companies left their Russian partners in a difficult situation,' he said. Putin's remarks came after President Donald Trump attacked Putin in a statement on Truth Social on Sunday, saying the Russian leader had gone 'absolutely CRAZY' after killing Ukrainian citizens. 'He is needlessly killing a lot of people, and I'm not just talking about soldiers. Missiles and drones are being shot into Cities in Ukraine, for no reason whatsoever,' he said. 'I've always said that he wants ALL of Ukraine, not just a piece of it, and maybe that's proving to be right, but if he does, it will lead to the downfall of Russia!'
