“Today, Russia is the biggest economy in Europe in terms of gross domestic product in purchasing power parity and the fifth biggest one in the world,” Putin pointed out.

The head of State noted that Russia’s economy grew with rates higher than the G7 States in 2023.

The president assured that the minimum wage in Russia will amount to 35,000 rubles (385 dollars) by 2030.

“At present, 13.5 million people live below the poverty line; the number is still high, and we will reduce it,” he stressed.

According to the Russian Constitution, the president addresses the Federal Assembly with annual messages on the situation in the country and the main guidelines of the State’s domestic and foreign policy.

This address is the 28th in Russia’s modern history and the 18th by Vladimir Putin.

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