World getting rid of dictatorships forcing others into economic servitude — Putin

According to the Russian leader, building a multipolar world order that is more democratic, honest and fair for the majority of humanity is inevitable and historically necessary

SIRIUS /Federal Territory/, October 4. /TASS/. The world is gradually getting rid of isolated dictatorships that try to force others into economic servitude, Russian President Vladimir Putin said on Wednesday.

"The world is gradually getting rid of the dictatorship of a financial and economic model aimed at driving into debt and servitude, turning into economic colonies and depriving entire regions of the world of resources for development," Putin said.

Few people, he said, want such a future.
"Therefore, building a multipolar world order that is more democratic, honest and fair for the majority of humanity is simply inevitable, historically necessary," he said.

Putin stated that it also includes creating strong economic foundations for such a global system.

Furthermore, modern technologies open new options for both people and businesses alike, allowing the government to establish and support public and financial institutions that reflect the changing reality of a multipolar world, as well as develop more convenient and secure international payment systems.

Countries managing global currencies are at the top of a "financial pyramid" and this is not in line with interests of the majority, he added.

"I strongly expect that despite all the current complications at the international stage, we will eventually achieve a certain consensus, not being confined to only interests of countries that head, so to say, this financial pyramid at present. This is actually clear because these are apparently their national currencies. However, this does not correspond to today’s interests of the overwhelming majority of mankind," the Russian President said.

It is very important to elaborate common approaches as regards cyber-threats because these are common problems, the President added, referring to the problem of cybercrimes.

4 OCT, 11:45

Russia’s annual inflation accelerates to 5.94% on September 26-October 2

"Price increase in the food items section dropped to 0.26% due to a slowing in the growth rate of prices for fruits and vegetables and other food products," the statement reads

MOSCOW, October 4. /TASS/. Annual inflation in Russia rose to 5.94% from September 26 to October 2 from 5.74% a week earlier, the Ministry of Economic Development said on Wednesday.

"In the week ending September 26, 2023, inflation fell to 0.21% (from 0.28% the previous week).

The year-on-year price increase was 5.94%.
Price increase in the food items section dropped to 0.26% due to a slowing in the growth rate of prices for fruits and vegetables and other food products.
Price increase in the non-food group has also reduced to 0.08%, with gasoline and diesel fuel prices continuing to fall.
Prices in the services sector grew by 0.27%, owing primarily to an increase in the cost of domestic airplane tickets," the statement said.

On September 12, the Ministry of Economic Development raised the forecast for inflation in Russia in 2023 from 5.3% to 7.5%.

The Federal Statistics Service (Rosstat) earlier reported that Russia's GDP for the second quarter of 2023 amounted to 39.39 trillion rubles ($395 bln) in current prices.

Earlier, the statistical service confirmed the preliminary estimate of Russian GDP growth in the second quarter of 2023 at 4.9% in annual terms. Compared to the first quarter of 2023, GDP grew by 8.6%.

The growth in the physical volume of GDP was due to an increase in domestic final demand by 10.1% compared to the second quarter of 2022, with a decrease in net exports, Rosstat reported.