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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Putin: Russian Economy Likely Shrank 2.5% in 2022 but Beating Expectations

Russian President Vladimir Putin listens to Novosibirsk Region Governor Andrey Travnikov during their talks via videoconference at the Novo-Ogaryovo state residence, outside Moscow, Russia, Monday, Jan. 16, 2023. (Kremlin Pool Photo via AP)

President Vladimir Putin said on Tuesday that the Russian economy was likely to have shrunk by 2.5% in 2022, but that it was performing better than most experts had predicted.

Putin, who was speaking at a meeting with top officials including the finance minister and central bank chief, said real wage growth needed to be stimulated.

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