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Wed, 12/27/2023 - 13:00

Russia Now Europe's Largest Economy - Presidential Aide

Moscow's Federal State Statistics Service (Rosstat) confirmed a robust 5.5% GDP growth for the third quarter in December and upgraded its annual GDP growth estimate for January-September to 3%, up from the previous 2.9%.

Russia has become the largest economy in Europe, revealed Russian presidential aide Maxim Oreshkin in an interview with Expert magazine.
Globally, he also stated that the Russian economy sits just behind Japan in the race for the fourth-largest economy.

According to Oreshkin, "the so-called economies of the Global North - the United States, Japan, the EU - are gradually losing their role and importance."

"China has become the leading economy, Russia is now the largest economy in Europe and is closing in on Japan in the race for fourth rank. Asian economies have moved up significantly in the rankings, with India taking third place, Indonesia moving up to seventh place and poised to challenge Germany's sixth place in the near future," Oreshkin said.

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