The accelerated development of the Russian economy hindered its internal problems, stated in his address to the Federal Assembly President Vladimir Putin. These problems are the head of state urged to solve, noting that Russia cannot afford its economy is to “circling around the zero.”
“The main reasons for the deceleration of the economy lie primarily in our domestic issues. First and foremost is the shortage of investment resources, modern technologies, professional staff, lack of competition, shortcomings in the business climate,” Putin said.
The President also noted the presence of serious external economic challenges, including anti-Russian sanctions, the initiators of the introduction which, according to him, tried to force Russia to “dance the tune of others”. However, Russia’s economy was gradually adapted to the new conditions.
“Now the slowdown in the real sector ended, there has been even a small industrial growth. The trend is positive, you will need to save,” — said Putin, stressing at the same time stop the decline and stabilize it is necessary to achieve the transition to sustainable economic growth.
“If we do not solve the basic problems of the Russian economy, not start in full force new growth factors, years can hover near the zero mark. We have constantly squeezed, to save, to postpone its development, and this we can not afford”, — said the President.
In September 2016, Central Bank chief Elvira Nabiullina also said the main problem of the Russian economy’s risks. However, the most significant external risks, according to her, there is a threat of a fall in world oil prices.
“Key risks for the Russian economy is still internal. However, external risks exist. The uncertainty in the dynamics of global growth will exist, and we must be ready for it. If we talk about specific external risks the main channel of influence of these risks is, of course, through the oil prices”, — said Nabiullina.
The message of Vladimir Putin to the Federal Assembly. Online stream