Global economy is currently in a rather dire state — Kremlin

MOSCOW, July 16. /TASS/. Russia's current economic growth rate is insufficient, but the global economy is also in a rather dire state, and the country is not insulated from global developments, Russian presidential spokesman Dmitry Peskov said at a briefing.

"The pace of growth, as the president has repeatedly said, is insufficient. It has been acknowledged as insufficient. But the global economy as a whole is currently in a rather dire state, including due to the consequences of conflicts such as the one around the Persian Gulf. Countries in Western Europe and some Asian nations are also experiencing economic difficulties. Of course, Russia cannot remain isolated from these developments," the Kremlin spokesman said.

He stressed that the overall situation in the Russian economy remains stable and that the challenges it faces are not critical.