Russian economy stable despite sanctions, says prime minister

MOSCOW

Russia’s economy and financial systems have remained stable despite the West’s sanctions, Prime Minister Mikhail Mishustin said on Tuesday.

All principal economic indicators are “balanced,” Mishustin said at a government meeting in Moscow.

“The sanctions did not disrupt the stability of the Russian financial system or affect macroeconomic stability. The applied systemic measures made it possible to stabilize the situation in the economy, support enterprises and entire industries, and save jobs,” he said.

In the first nine months of this year, Russia’s income turned out to be higher than expected and debt levels decreased by a quarter, he added.

The objective now is to return to sustainable economic growth, Mishustin asserted.

“It is important to move toward the resumption of sustainable economic development as soon as possible, which will require maximum concentration and cohesion in our actions, as well as strict compliance with financial and tax discipline,” he said.