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 โtotal collapseโ of the Russian economy.
Russia โActivelyโ Cooperating With BRICS, SCO, ASEAN
Russian President Vladimir Putin spoke at the plenary session of the Eurasian Economic Forum on Wednesday. Amongย the topics he discussed were the state of Russiaโs 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.
โI consider the theme of the forum โEurasian integration in a multipolar world,โโ 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.
Keepingย inย mindย 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 accordingย to โmutual benefit, respect and consideration of each otherโs interests.โ
He alsoย mentionedย that countries that doย 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 theย capacity collapse of the Russian economy. The Wall Street Journal, forย instance, published an post in March claiming that โRussiaโs economy is starting to come undone.โ
The Russian leader opined: โThe numbers speak for themselves: regardlessย 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.โ He alsoย mentionedย that some specialists โpredicted a completely different scenario, a collapse scenario.โ Putin stressed:
Nothing like this is happening and has not happened and clearly wonโt be happen again.
โLet 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 theย 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,โ he detailed.
The International Monetary Fund (IMF) raised Russiaโs 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 Russiaโs economy.
