Putin Announces Plans to Run for President in 2024

On Friday, Russian President Vladimir Putin announced his plans to run for reelection in 2024. The announcement was made during an informal conversation with participants of his country's special military operation.

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Previously, on Thusday, the Russian leader confirmed that his country supports the establishment of a new "truly democratic" model of global economic development.

"The entire global system of economic relations is undergoing fundamental irreversible changes. This is because the previous model of globalization is being replaced by a multipolar model," Putin said at the plenary session of the 14th VTB "Russia Calling!" Investment Forum.

"We want to create a new model, a truly democratic one, where fair competition between all economic actors prevails," he said, adding that such a change in the global economic landscape and the emergence of new powers would be a "natural" and "objective" process.

The Russian leader also said that current developments could potentially lead to a "revolution" that would ultimately challenge the monopoly of large Western banks.

He said the West has essentially destroyed the principles of market economy, and the financial infrastructure dominated by the U.S. dollar and the euro has been discredited.

"Russia's GDP grew by 3.2 percent this year over the course of 10 months," Putin said, adding that it is at a higher level than before the large-scale Western sanctions imposed against the country.

"We have proven that we are capable of tackling some of the most complex challenges," Putin said, adding that the 2023 Russian GDP growth rate is expected to reach 3.5 percent.

The 14th VTB "Russia Calling!" Investment Forum is being held on Dec. 7 and 8 in Moscow. The main theme of the event is "Making Deglobalization: Uniting Sovereign Economies."