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Putin commented on the economy of the West

The economic indicators of the SCO member states are better than those of the Western countries

Jul 4, 2024 17:15 52

Putin commented on the economy of the West  - 1

Russian President Vladimir Putin noted the similarity of the positions of the SCO countries on international issues and drew attention to the growth of GDP in the member countries of the organization against the background of the recession in the West.

“SCO member states coordinate their actions internationally, including at the UN, and adhere to similar foreign policy approaches,” said the head of state at a meeting in “SCO Plus” format.

„Within the framework of the SCO, together with the business community, trade-economic, investment and financial cooperation is actively promoted,”, Putin emphasized. He considers it indicative that “against a recession in a number of developed economies around the world, the total GDP of the SCO countries in 2023 increased by an average of 5.2%, industrial production grew by 4.5% with inflation from only 2.4% %.” ;. “These are good indicators”, commented the Russian leader.

According to him, “interaction in the field of energy, infrastructure, food security, high technologies and innovations, digitization and artificial intelligence continues to deepen consistently”. “The SCO is taking the most active steps to build and optimize the chains of trade, logistics and mutual payments, new, more efficient transport corridors are being formed that connect the continent from north to south and from west to east”, the Russian president said examples for interaction.

„We are, of course, interested in involving a wide range of countries in the industrial projects implemented through the SCO”, assured the Russian head of state, specifying that “The SCO Business Council, the Interbank Association and the Forum of regional leaders are also open to partnership".