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Vladimir Putin: Russia should enter top-5 world largest economies

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Vladimir Putin: Russia should enter top-5 world largest economies


29.11.2018

postnews.ru

Economic growth should be accelerated to achieve a drastic improvement of living standard in Russia. Russian President Vladimir Putin said at VTB Capital Russia Calling! Investment Forum, TASS reports.

The president believes that the current economic growth rate does not allow to achieve this goal. 
A special development program aims to change the situation. 

The Russian leader underlined that the main goal was to make the national economy grow faster than the world one. Russia must steadily hold the position in top-5 largest economies in the world.

Vladimir Putin added that GDP grew by 1,5% during the first nine months of the year. Meanwhile, the industry shows an even higher growth, it makes up 3% percent. Manufacturing sector shows an even higher growth of 3%.

The President stated that as a whole the country's economy is growing steadily with low inflation and unemployment rate of 3,5% and a little less than 5% respectively. The investment environment is also in good condition. 

Putin urged Washington to look for common points and stop using unilateral restrictive measures. According to Putin, Trump's stance is a positive one, however, a consensus of the United States elites is vital for the cooperation with partners.

Moscow and Washington should treat each other with respect and show this respect by concrete moves.

Russia did not deliberately try to get rid of the dollar, the Russian leader pointed out. The current situation shows that this currency loses its value. Sanctions make the calculations in dollars remarkably unstable. It results in an obvious desire to find reserve currencies.

Dollar assets are declining even among the largest holders, noted the president. Russia is working to find alternative ways to calculate and build up reserves.

The president also said that the Russian economy has already come in terms with external shocks and it is now creating conditions for the development of the country.

The tenth annual VTB Capital Russia Calling! Investment Forum takes place in Moscow. Delegates from 63 countries participate in the event this year.The forum aims at attracting investments to the Russian economy and promoting the country's external business and economic ties.

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