Russian Prime Minister admits to �certain slump� in Russian economy

05.07.2022, 02:05 pravda.com.ua

Mihail Mishustin, Prime Minister of the Russian Federation, admitted to a "certain slump" in the Russian economy in the fifth month of Russia’s war against Ukraine and of Western sanctions against Russia. Source: Meduza, an oppositional Russian media, citing Mishustin’s statement at an industrial exhibition Details: The head of the Russian government said that there is a certain decline in some of the industries, but noted that it was not critical. Mishustin said that moving forward, the Russian economy has to "shift from a catch-up model of development to a leadership one." Quote from Mishustin: "We’ve made good progress and in many ways this has allowed our industry to hold out [against the Western sanctions - ed.] and to avoid any sort of dramatic scenarios which our opponents forecast and expected. Yes, some of the industries are seeing a certain slump, but nowhere have we approached a critical point. Quite the contrary, we are seeing an increased growth in the electronic, the pharmaceutical, and other industries." Earlier: In May, Vitaliy Savelyev, Russia’s Minister of Transport, said that the Western sanctions have "virtually wrecked all logistics" in Russia.