Russian Prime Minister admits to certain slump in Russian economy

ROMAN PETRENKO – MONDAY, JULY 4, 2022, 21:45
Mikhail Mishustin, Prime Minister of the Russian Federation, acknowledged a "certain slump" in the Russian economy in the fifth month of Russia's war against Ukraine and Western sanctions against Russia.
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Source: Meduza, an opposition Russian outlet, quoted Mishustin's testimony at an industrial exhibition
Details: The Russian leader said there was some decline in some industries but noted it was not critical.
Mishustin said that in the future, the Russian economy "needs to move from a catching-up development model to a leadership model."
Mishustin quote: “We have made good progress and in many ways this has enabled our industry to [against Western sanctions – ed. Red.] to withstand and avoid any kind of dramatic scenarios that our opponents predicted and expected.
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Yes, some industries are seeing some slump, but nowhere have we approached a critical point. On the contrary, we are seeing accelerated growth in the electronics, pharmaceutical and other industries."
Previous: In May, Russia's Transport Minister Vitaliy Savelyev said Western sanctions had "virtually ruined all logistics in Russia."
Roman Petrenko
Russian businessman

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