The main statements of Russian President Vladimir Putin at the St. Petersburg International Economic Forum:

◾️ The most difficult period for the Russian economy in 2022 was the second quarter, but the strategy chosen then worked

◾️ GDP grew by 3.3% in April and will add 0.7% year-on-year, allowing Russia to retain its place among the world's leading economies

◾️ Russia's unemployment rate is at its lowest ever – 3.3% – the lowest it has ever been in history

◾️ 1.7 million people moved out of poverty in 2022

◾️ Inflation in Russia is lower than in many Western countries and is close to a historical low of 2.9%

◾️ Russia managed to prevent price hikes

◾️ The real economy is growing and gaining momentum

◾️ Russia is obliged to increase defense spending to ensure the country's security

◾️ Russia is reducing dependence on oil and gas revenues.

◾️ Despite the sanctions, the dynamics of non-oil and gas revenues is up 9.1%

◾️ Incomes of the population returned to growth

◾️ Russia will significantly upgrade its merchant fleet in the next 5 years: by 2025 to double and by 2030 to triple the volume of export shipments along the North-South Transport Corridor

◾️ Russian banks passed the strength test

◾️ The course on economic openness is an important principle for Russia, "we haven't turned onto the path of self-isolation"

◾️ Russian authorities are preparing new mechanisms for cross-border settlements

◾️ Nearly 90% of settlements with the EAEU countries are now in rubles, with China – 80% in rubles and yuan

◾️ Low unemployment has a downside: difficulties in recruiting and staff shortages

◾️ Unless the business involves causing harm to a person, it should not be inspected at all, as scrutiny undermines business confidence

◾️ Freezing Russian accounts abroad is in violation of all legal norms – "it is robbery, the Middle Ages"

◾️ Russia is not seeking to produce all possible goods, it is necessary to build new logistics chains