In a moment of triumph set against the backdrop of prolonged geopolitical pressure and economic sanctions, Russian President Vladimir Putin has hailed the country’s economic growth, celebrating Russia’s rise to the world’s fourth-largest economy based on purchasing power parity (PPP). The announcement came during a meeting with business leaders on National Entrepreneurs Day, held on May 26, where Putin acknowledged the substantial contributions of Russian entrepreneurs, industries, and workers to this economic milestone.

“Russia’s economy is now fourth in the world by PPP – that’s your direct achievement,” Putin told the gathering. “It’s the result of the hard work of companies from all regions of the Russian Federation.”

This notable economic positioning places Russia just behind China, the United States, and India in terms of adjusted GDP. Purchasing power parity, a method used by economists to compare economic productivity and standards of living between countries, accounts for differences in the cost of goods and services across nations. By this metric, Russia has overtaken several major global economies, including Germany and Japan.

Putin was quick to emphasize that these results did not emerge under optimal conditions. Instead, he lauded the resilience and adaptive capacity of the Russian economy in the face of international sanctions, trade restrictions, and a complex geopolitical climate.

“In 2023, GDP grew by 4.1%, and in 2024, by 4.3% – that’s a solid result,” he noted. “These are far from favorable and rather difficult conditions.”

Russia’s economy has had to adapt swiftly to an environment shaped by Western sanctions following the escalation of the conflict in Ukraine in 2022. These measures, intended to isolate and........

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