Putin Defies Economic Collapse Predictions, Highlights Global Cooperation with BRICS, SCO and ASEAN

Putin Defies Economic Collapse Predictions, Highlights Global Cooperation with BRICS, SCO and ASEAN


Russian President Putin discusses Russia’s active cooperation with major international organizations including BRICS, SCO, ASEAN, GCC, and multilateral organizations in Latin America and Africa, and rejects predictions about the “total collapse” of the Russian economy.

Russian President Vladimir Putin reveals Russia is actively cooperating with major international organizations, including the BRICS group, the Shanghai Participation Organization (SCO), the Association of Southeast Asian Nations (ASEAN), the Gulf Participation Council (GCC), and multilateral organizations in Latin America and Africa. Putin likewise rejected predictions about the “total collapse” of the Russian economy.

Russia ‘Actively’ Cooperating With BRICS, SCO, ASEAN

Russian President Vladimir Putin spoke at the plenary session of the Eurasian Economic Forum on Wednesday. Among the topics he discussed were the state of Russia’s economy, the effects of Western sanctions, and participation with major international organizations, including the BRICS bloc and the Shanghai Participation Organization (SCO). The BRICS group comprises Brazil, Russia, India, China, and South Africa.

READ NOW
Lawmakers Blast SECs Crypto Crackdown: 13 Charges, 12 Tokens, 1 Contemptuous Regulator

“I consider the theme of the forum ‘Eurasian integration in a multipolar world,’” Putin stated the annual forum of the Eurasian Economic Union (EAEU). The Russian president said:

We see that really profound, fundamental changes are taking place in the worldwide arena. More and more states are taking a course towards strengthening national sovereignty, pursuing independent domestic and foreign policies, and adhering to their own development model.

Keeping in mind that these countries support the creation of a new, more just international economic order, Putin detailed that they are committed to constructively influencing worldwide affairs and expanding the network of partnerships that are according to “mutual benefit, respect and consideration of each other’s interests.”

READ NOW
Bitcoins Bollinger Bands: Brace Yourself for Volatility

He also mentioned that countries that do not think and act this way are only exacerbating the downward tendency of their own development, stating that they are shooting themselves in the foot. Emphasizing the importance of solidarity between countries universally, Putin said:

We actively cooperate with major international associations such as BRICS, the Shanghai Participation Organization [SCO], the Association of Southeast Asian Nations [ASEAN], the Gulf Participation Council [GCC], and multilateral organizations in Latin America and Africa.

Putin Insists Russian Economy Will Not Collapse

Putin likewise discussed predictions regarding the  capacity collapse of the Russian economy. The Wall Street Journal, for instance, published an post in March claiming that “Russia’s economy is starting to come undone.”

READ NOW
Aleph Zeros Top 5 Mind-Blowing Projects You Need to See!

The Russian leader opined: “The numbers speak for themselves: regardless of the large-scale crisis in the worldwide economy and trade, considerable geopolitical dangers and uncertainties, the total GDP of the Eurasian Union states for 2022 decreased, but decreased by 1.6 percent.” He also mentioned that some specialists “predicted a completely different scenario, a collapse scenario.” Putin stressed:

Nothing like this is happening and has not happened and clearly won’t be happen again.

“Let me remind you that both our specialists and international specialists for Russia already show GDP growth. At first, they talked about 0.7 percent. Let me remind you that in the leading economies of the European Union specialists show a minus for the present year. At first, we were talking about plus 0.7%, now they say plus 1.5%, and maybe up to two percent. And that reveals a lot,” he detailed.

READ NOW
Regulation Frustration: U.S. Companies Seek Overseas Opportunities

The International Monetary Fund (IMF) raised Russia’s GDP forecast in April to growth of 0.7 percent from 0.3 percent but lowered its 2024 forecast to 1.3 percent from 2.1%. The IMF expects labor shortages and the exodus of Western corporations to harm Russia’s economy.

Source

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend