Putin: the future of the Russian economy inspires cautious optimism

Putin: the future of the Russian economy inspires cautious optimism


STAVROPOL, January 25. Basic fundamentals of the Russian economy allow to show cautious optimism about its future. This was stated by the President of the Russian Federation Vladimir Putin, answering questions during the inter-regional forum of the popular front.

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“Fundamental bases of functioning of economy allow us to show cautious optimism,” said Putin. According to him, the budget deficit in Russia was “less than expected”, and thus preserve the trade surplus and large reserves with low debt.

All the difficulties and give some opportunities, not only in agriculture but also in industry, pointed out Putin.

“Speaking of which, we decline to 3.3 percent in industry, and in agriculture growth of nearly 3 percent. But the industry will definitely increase,” – expressed confidence the head of state. This, he said, should promote and measure of import substitution. Putin stressed that the program is aimed not just at “what costs something to replace what we’re missing”, and the creation of innovative technologies, not only in the defense industry.

“Fundamental bases of functioning of economy allow us to show cautious optimism,” continued Putin. According to him, the budget deficit in Russia was “less than we expected – I reported to the Ministry of Finance, 2.6%, probably 3 is odd”, and thus preserve the trade surplus and large reserves with low debt. He concluded that this creates the basic conditions for future development.

“Of course, we should preserve this, acting in the social sphere is also very carefully without inflating the cost, but providing the standard of living of citizens”, – concluded the head of state.

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Speech by Vladimir Putin at the interregional forum of the popular front. Text translation