Russian economy surges, overcomes Europe sixfold

(MENAFN) Russian Prime Minister Mikhail Mishustin asserted Wednesday that the nation's economy has reached 200 trillion rubles ($2.37 trillion) in 2024, claiming a growth rate six times faster than that of Europe.

Addressing the State Duma, the lower house of the Russian parliament, Mishustin attributed the economic expansion to robust domestic demand. He highlighted a 7.5% increase in fixed capital investments during the previous year.

Mishustin further reported an 8.5% surge in Russians' disposable income for 2024, coupled with a record-low unemployment rate. He emphasized that Russia’s economic growth has doubled the global average over the past two years.

“Russia is among the four largest economies in the world in terms of purchasing power parity,” Mishustin stated. “Our economy grew 4.1% last year. Our growth in two years has exceeded Europe’s almost sixfold.”

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