The Russian economy has managed to maintain stability amid unprecedented sanctions pressure, said Deputy Prime Minister Alexander Novak.

According to him, the structure of economic growth has changed significantly in recent years: the role of net exports has decreased almost threefold, while the domestic market has become the main driver.

As a result, Russia has risen to fourth place in the world in terms of economic volume measured by purchasing power parity, becoming Europe’s largest economy.

Further growth, Novak noted, is planned to be driven by investments, technological development and structural transformations.

@russiafirstchanel