The country hopes to become one of the top four global economic powerhouses, the president has said

Russia is already the biggest economy in Europe in PPP terms, and could join the top four globally, Russian President Vladimir Putin said on Thursday.

PPP is a metric popular with many economists that compares economic productivity and standards of living between countries by adjusting for the differences in the cost of goods and services.

While delivering an address to the Federal Assembly on Thursday, the president noted that in 2023 the Russian economy outpaced the G7 states in terms of growth.

“The pace and quality of growth allow us to say that in the near future we will take a step forward and become one of the four economic powers of the world,” Putin said.

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