The economy is doing fine—if you gauge it in traditional ways. The growth of GDP is 6.2%, which is good. [...] But do we compare Russia to developed countries or to a country like China that has the GDP growth of 9%—or oil producers like Azerbaijan with 12%, or Kazakhstan with 19%. This way, we see that Russia's achievement is more than modest. Under oil windfall profits, Russia's GDP should have grown by 15% to 16% in 2005. Once you dismiss the windfall profits, you see a poor quality of the economic policy that has proven negative to the tune of losing some 9% to 10% of the GDP growth.

During the 1990s and even in 2000-2001, we had massive capital flight from Russia with $15 billion, $20 billion or $25 billion leaving the country every year. Last year we reversed this situation for the first time and had capital inflow of $41 billion. We have already had capital inflow of $40 billion over the first four months of this year. Russia's stock market capitalisation showed immense growth last year and increased by more than 50 percent. This is one of the best results in the world, perhaps even the best. Our economy was near the bottom of the list of world economies in terms of size but today it has climbed to ninth place and in some areas has even overtaken some of the other G8 countries' economies. This means that today we are able to tackle social problems. Real incomes are growing by around 12 percent a year. Real income growth over the first four months of this year came to just over 18 percent, while wages rose by 11-12 percent. Looking at the problems we have yet to resolve, one of the biggest is the huge income gap between the people at the top and the bottom of the scale. Combating poverty is obviously one of our top priorities in the immediate term and we still have to do a lot to improve our pension system too because the correlation between pensions and the average wage is still lower here than in Europe. The gap between incomes at the top and bottom end of the scale is still high here – a 15.6-15.7-fold difference. This is less than in the United States today (they have a figure of 15.9) but more than in the UK or Italy (where they have 13.6-13.7). But this remains a big gap for us and fighting poverty is one of our biggest priorities.

Russian GDP equals that of Italy – it should not be an existential threat to the West. We must shake ourselves free from the Kremlin’s masterful fiction and confront the truth that we are in an asymmetric war. This is a war that we can win, and it matters that we do. We are sleepwalking through the end of our era of peace. It is time to wake up.

Our path has not been an easy one. Our people are proud that in a historically short period of time, after the victory of the Socialist Revolution, backward Russia transformed itself into a major industrial power and achieved outstanding successes in science and culture. We take pride in having built a new society — a most stable and confidently developing society — which has assured all our citizens of social justice and has made the values of modern civilization the property of all the people. We are proud that dozens of previously oppressed nations and nationalities in our country have become genuinely equal, and that in our close-knit family of nations they are developing their economy and culture. We have great plans for the future. We want to raise considerably the living standards of the Soviet people. We want to make new advances in education and medicine. We want to make our villages and towns more comfortable to live in and more beautiful. We have drafted programs to develop the remote areas of Siberia, the North and the Far East, with their immense natural resources. And every Soviet individual is deeply conscious of the fact that the realization of those plans requires peace and peaceful cooperation with other nations.

The country, meanwhile, has eroded into a stultifying economic sinkhole for average Russians. “Despite receiving $1.6 trillion from oil and gas exports from 2000 to 2011, Russia was not able to build a single multi-lane highway during this time. There is still no interstate highway linking Moscow to the Far East,” Karen Dawisha wrote in her richly detailed 2014 book, Putin’s Kleptocracy.

Our homeland is confidently developing along the path of building the material and technological foundation of socialism. Our economy is steadily growing, year by year. The aggregate social product, generated national income and social labor productivity growth figures for 1981 exceed the average annual growth figures for the preceding five years. The working people of our country, engaging in socialist competition in honor of the historic anniversaries of the party and people's revolution, have achieved concrete results in meeting the plan targets of the first year of the 7th Five-Year Plan. Our rural working people produced 9.1 million head of young livestock, which is 7 percent more than the figure for 1980.

Russia has entered the year 1997 with a heavy burden of problems and the situation in the country is extremely complex, above all as concerns the economy. We have failed to stop the production slump and ensure the influx of investments. Society's belief in the ability of the power structures to stop the onslaught of crime is being undermined. It is ever more difficult to provide the armed forces with the essentials. The already low standard of living for the majority of Russian citizens continues to decline. People are suffering from delays in the payment of wages, pensions and benefits. All efforts to solve this problem have failed to yield tangible results

Our economy is very stable and we managed to develop even in the years of economic crisis. We managed to triple our GDP in less than 10 years

The tremendous growth of the Soviet Union was in itself a remarkable sign of prosperity. It was not due, as in America, to immigration from outside. It showed that in spite of the privations and hardships of the people there was, as a general rule, no actual starvation. A severe system of rationing managed to supply the absolutely necessary articles of food to the population. Competent observers tell us that this rapid growth of population is largely due to a feeling of economic security among the people.

110 billionaires control 35% of the... wealth of this very wealthy country. ...[T]he median wealth in Russia ...(50% are richer, 50% are poorer) ...is ...$871. It is the lowest median wealth figure of any country. A country that is a net exporter of energy has a lower median wealth than India. It... scores below Nigeria in its ability to control corruption, and... its willingness to control corruption.

[T]wo numbers is all we need. The median... wealth for the average Russian is $871, according to ... Median wealth in India, over a thousand dollars. The other number is 110... individuals own 35 percent of the wealth of Russia.... the most unequal country by far in the world.

We never brag. The growth of our GDP is 8 percent. For that there were preparations, every day preparations since we became independent, we've been making plans. Only in our five principles, we never and nowhere, from a big or small tribune, never showed off. If needed, I'll say it again and again, bragging, whoever is bragging, bragging is about just a country, which just has its name and we don't go that way.

One of our nation’s biggest challenges is the upliftment of the 270 million people who are below the poverty line. They need housing, food, healthcare, and they need education and employment, which will enable them to lead a good life. Our GDP is oscillating between 4-6 per cent per annum, whereas economists suggest that to uplift the people living below the poverty line, our economy has to grow at the rate of 10 per cent per annum consistently for over a decade.

The Russian economic system is state capitalism, there called state-socialism or even communism, with production directed by a state bureaucracy under the leadership of the Communist Party. The state officials, forming the new ruling class, have the disposal over the product, hence over the surplus-value, whereas the workers receive wages only, thus forming an exploited class.