Russian President Vladimir Putin said on Thursday that the rumors stating that the country's economy has collapsed "were seriously exaggerated."
"The decline in the Russian economy in the summer was associated with sanctions. Since July last year, Russia has observed growth," Putin underlined, speaking at a meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP). The head of state further expressed confidence that the country will be able to overcome "the threat of medium-term negative effects of sanctions."
He cautioned the West not to dig a hole for another, as "you will fall into it yourself." Putin went on to say that Moscow managed to compensate for the closure of Western markets, with the foreign trade turnover in 2022 growing by 8%.
