Russia fourth-largest economy globally after China, US, India: Vladimir Putin

While speaking at the programme "Year in Review with Vladimir Putin," hosted by Channel One, the Russian president underscored that international institutions now rank the country as the largest economy in Europe by purchasing power parity and the fourth largest globally, following China, the United States, and India, surpassing Germany and Japan.

Addressing the reporters, Putin said, "International financial and economic institutions have placed Russia first in Europe in terms of economic volume, purchasing power parity, and fourth in the world. Ahead are China, the United States, and India. We overtook Germany last year and have overtaken Japan this year."

He further said, "Everything is measured by the economy. Traditionally, we start with the economy... Everything is on the economy, this is the foundation of foundations. The standard of living of citizens is on this, stability is on this, defence capability is on this - everything is on the economy. The overall economic situation in Russia is normal and stable. We are developing, despite everything, despite any external threats and attempts to influence us."

Speaking on the country's economic performance, Putin noted that Russia's growth rate of 3.6 per cent last year is expected to reach 3.9 per cent or 4 per cent in 2024, amounting to an approximate 8 per cent increase over two years.

"Last year, as you know, our economic growth was 3.6 per cent, this year it will be 3.9 per cent, and may be even 4 per cent. We will have to see, because the end-of-year results are calculated practically in the first quarter of the next year, 2025 in this case, and maybe it will be four. This means that over two years, economic growth was about 8 per cent, because, as experts say, I was exchanging opinions this morning, tenths, hundredths of a percent are a virtual thing..."

Putin on Thursday also challenged Western claims about the Oreshnik missile's vulnerability, suggesting a direct test to assess its effectiveness against advanced air and missile defence systems in Ukrainian capital Kyiv.

When questioned about the West referring to the "Oreshnik" as a modified version of an old Soviet weapon and claiming that the missile could be intercepted by air defence systems even during its launch phase, Putin responded, "This is a modern, very new weapon. Everything that is done in any sphere of activity is based on some previous developments, on previous achievements, and then people take a step forward. The same thing with Oreshnik... This is a new weapon. I repeat: this is a medium- and shorter-range weapon."

He further said, "Let them (West) identify some target for destruction, say, in Kyiv, concentrate all their air defence and missile defence forces there, and we will strike there with the Oreshnik, and see what happens. We are ready for such an experiment. Is the other side ready? In any case, we do not rule it out. I mean that all their missile defence and air defence systems are still in operation.

Putin expressed his confidence in Russian military advancements and expressed interest in the outcome for both Russia and the United States following a "technological duel."

He added, "It will be interesting for us. What I told you is what engineers, scientists, and military specialists tell me. At the level of political leadership in the States, they also tell me something. Let's conduct such an experiment, such a technological duel and see what happens. It's interesting. I think it will be useful for both us and the American side." (ANI)