Putin called Russia's fourth place in the world economic ranking a merit of business

Russia has taken the fourth place in the world in terms of purchasing power parity, and this is due to the domestic business, which continues to develop despite external pressure. This was announced on May 26 by Russian President Vladimir Putin at a meeting with representatives of the Russian business community.

"The fact that the Russian economy is now the fourth largest in the world in terms of purchasing power parity <...> is the result of the joint work of enterprise teams and companies from all regions of the Russian Federation," Putin said.

The President stressed that the contribution of the business community to the development of the country is invaluable, from the development of territories and the construction of infrastructure in pre-revolutionary Russia to the industrialization of the 20th century. The enterprises established back then operated during the Great Patriotic War and in the post-war period.

According to the head of state, already in the 21st century, business, including young entrepreneurs, has made a significant contribution to the development of key sectors — agriculture, the construction industry, new industries and modern services. According to Putin, it was business that played a leading role in strengthening the country's industrial, technological and financial sovereignty.

"And without this sovereignty, no other sovereignty is possible. This is the foundation," he said.

The President added that the current economic successes are the result of the collective work of enterprises throughout Russia.

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Putin announced the successes of the capital in almost all directions

Putin said on May 13 that Russia's economic stability was largely made possible by the active support of the business community. According to him, despite all the difficulties and the so—called external pressure, the year before last the Russian Federation still managed to achieve significant growth, both for the country and for the global economy.