The Russian economy grew by 5.4% in the first quarter of this year

Baghdad-INA

Russian President Vladimir Putin praised the performance of the Russian economy, and noted that Russia's gross domestic product grew in the first quarter of this year by 5.4%.

The Russian President's statement came during his meeting with representatives of the media in Petersburg as part of the activities of the Petersburg International Economic Forum, which is being held these days in the Russian city.

The Russian President said: "In the first quarter of this year, the Russian economy grew by 5.4%." Earlier this year, international institutions improved their expectations for the performance of the Russian economy after they had expected its collapse due to the unprecedented restrictions and sanctions imposed by the West.

The World Bank expects Russia's GDP to grow this year by 2.2%, while the International Monetary Fund expects it to grow by 3.2%.

From June 5 to 8, the Russian city of Petersburg will host the Petersburg International Economic Forum, which is an effective platform for exchanging opinions and experiences between policymakers, officials, and representatives of the business sector from various countries of the world. The event discusses the main economic issues and challenges facing Russia and emerging markets and the world as a whole.