#SPIEF2025 📊📊📊📊

🎙 Russia's President Vladimir Putin took part in the plenary session of the 28th St Petersburg International Economic Forum.

President of the Republic of Indonesia Prabowo Subianto, National Security Advisor, Commander of the Royal Guard of the Kingdom of Bahrain Nasser bin Hamad Al Khalifa, Vice Premier of the State Council of the People’s Republic of China Ding Xuexiang, and Deputy President of the Republic of South Africa Paul Mashatile also attended the session.

Key statements:

💬 Despite a challenging international landscape, Russia’s GDP has been demonstrating an annual growth rate of over four percent over the past two years, which is above the global average.

• Commodities no longer play a defining role in Russia’s economic growth patterns. In 2023, Russia’s non-oil-and-gas GDP increased by 7.2 percent, followed by an additional 4.9 percent in 2024. These are solid figures exceeding the overall GDP growth rates.

• Our strategic vector is precisely to actively and consistently transform the structure of the national economy, step by step. We have achieved a great deal in this area, but it is clear that moving forward is critically important, especially in light of the dramatic changes taking place in the world.

• Annual inflation has already dropped to single-digit levels below ten percent. As of June 16, it stood at 9.6 percent. Of course, that is still high, but inflation targeting continues.

• Over the past four years, employment in Russia has grown by 2.4 million people. Since October last year, the national unemployment rate has stabilised at around 2.3 percent, reaching a historic low.

• In terms of youth unemployment, Russia ranks among the best globally, with a rate of approximately seven and a half percent.
For comparison, youth unemployment stands at around 16 percent in France and 11 percent in the United Kingdom.

• Russia’s economy must become more technologically advanced. We must fully unleash a new phase of the country’s technological development. The key instrument in this regard should be the national projects aimed at securing technological leadership.

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