Putin addresses the people in his highly anticipated annual speech, notably flagging a ‘worrying’ economic issue

“Russia could create considerable migratory pressure on Europe”

This year, there is no shortage of reasons for concern, almost three years after the start of the large-scale Russian assault against Ukraine, in the midst of escalating tensions with the West and against a backdrop of multiple international and growing economic problems.

This carefully choreographed televised event also comes a month before Donald Trump’s return to the White House, which is fueling speculation about the launch of a possible peace process around Ukraine.

According to Russian news agencies, public television channels have planned three to four hours of airtime for this program which is scheduled to begin at 12:00 Moscow time (09:00 GMT).

The president’s spokesperson, Dmitry Peskov, indicated that Vladimir Putin had prepared throughout Tuesday and Wednesday for this exercise, during which all kinds of subjects will be discussed, whether geopolitics, repression in the country, local infrastructure problems or the daily lives of Russians.

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The question of the Russian economy

President Vladimir Putin assured Thursday that the Russian economy was “stable” despite “external threats”, with Russia facing heavy Western sanctions since 2022 in retaliation for its assault on Ukraine.

“The situation of the economy as a whole in Russia is stable, despite external threats and attempts at influence,” declared Vladimir Putin in the introduction to his major annual press conference.

“Inflation is a worrying signal,” he admitted in the first minutes of his major annual press conference, before emphasizing that wages had “increased” and that the situation was generally “stable.” Inflation should be close to 9% at the end of the year, after nearly 7.5% in 2023 and 12% in 2022.

Kursk region

Vladimir Putin admitted that he did not know when his army would manage to push back Ukrainian forces from the Russian region of Kursk, a small part of which they have controlled since a surprise offensive in August.

“We will absolutely defeat them,” assured the Russian president, responding to a question from a resident of this region. “But as for the question of a specific date, I’m sorry, I can’t say that now,” he admitted.