Russia’s economy should not go towards recession, President Vladimir Putin said that after the economists warned of the recession of the growth of months, economists.
Putin told attendees with government ministers and central bankers at the St. Petersburg International Economic Forum on Friday that some experts and experts were “pointing to the risk of being stable and even the recession.”
He said, “In any case, this should not happen.”
He said, “We need to pursue a competent, thought -ful, impact, tax and financial policy.”
Economy Minister Maxim Rishentnikov said on Thursday that the economy is on the verge of falling into the downturn and the decision of economic policies would decide whether the decision of financial policies falls into one.
In October, the Bank of Russia raised its main interest rates to high inflation in the early 2000s, which only declined by one percent earlier this month.
Moreover, economists warned for several months of the recession in the economy, and in the first quarter of 2025, the country posted the most slowest quarter expansion in two years.
However, the rapid expansion of two years is expected due to the rapid expansion of two years as this has increased the military expenditure to finance the war against Ukraine.
Nevertheless, Putin rejected that the defense industry was completely running the economy. He said, “Yes, of course, the defense industry played its role in this regard, but the financial and IT industries did so.”
He further said that the economy needs “balanced increase” and urged officials to “keep a close eye on all the health indicators of our industries, companies, and even personal industries”.
At the same time, Deputy Prime Minister Alexander Novak said on Friday, “It is time to reduce the (interest) rate and heat the economy.
Russia’s largest lender Sberbank Sber.MM CEO, German Gref, demanded a faster rate deduction to encourage companies to invest.
Rise
Putin has used the annual economic forum to highlight Russia’s economic power and encourage foreign investment, but in 2022, Moscow sent troops to Ukraine in Ukraine and left it to professional leaders in Asia, Africa and Latin America.
Many western approval economies have predicted estimates so far. Despite inflation, high protection costs have increased and unemployment is low.
Due to the large number of recruitment bonuses for military registration for those killed in Ukraine and the benefits of death, the poor region of the country has yielded higher yields. But the lack of long -term, inflation and foreign investment is a threat to the economy.
Economists have warned of pressure on the economy, and it is likely to remain stable due to lack of investment in regions other than army.
Putin said that the growth of military industries helped develop new technology available for the civic sector.
He promised to continue the military modernization, depending on the lessons learned during the battle in Ukraine.
He said, “We will use new technology to improve the ability of the Russian armed forces to improve the ability of the military infrastructure, (and) equip them with the latest technology and weapons and equipment,” he said.
“At the same time, we intend to develop military-technical cooperation with friendly countries. And we are not only talking about the modernization of supply or equipment and weapons, but also about joint development, staff training and generation of turn-key activities and production facilities.”
