RUSSIA INSIDER - PUTIN: RUSSIA WILL HAVE AN AVERAGE GROWTH OF 2% IN 2017

Published on Jul 14, 2017
Support us on Patreon! https://www.patreon.com/TeamRussiaIns...
Question: Mr President, I would like to follow up on my colleague’s topic. Even though there were many political issues at the summit, they keep on surfacing at the G20 summits more and more often, yet you listed economic issues, which remain the priority anyway. Many speakers, ministers from different countries responsible for the economy, said that 2017 could become the year of global economic growth. How feasible is that and will this growth be seen in Russia in view of the current unfavourable trends – sanctions, restrictions and other factors?

Vladimir Putin: We have not seen any unfavourable trends so far, or they have almost disappeared at any rate. Certain factors are having a negative impact on economic development, including in the global economy, the economy in the Euro zone and in Russia, those same illegitimate restrictions you have mentioned. We call for lifting any restrictions, for free trade, for working within the World Trade Organisation, in line the WTO rules. By the way, one of the topics discussed here was free trade and countering protectionism. This is also one of the crucial areas that should be mentioned.

On the whole, there is some progress. However, the initial optimistic growth forecasts have been downgraded. Nevertheless, there is growth, and it is apparent, including in Russia.

I said recently and repeated it here that Russian economic growth is tangible, the Russian economy, and we can say this with certainty, has recovered from the recession. We have been growing for the third quarter in a row, and soon it will be the fourth quarter in a row. Growth exceeded 3 percent in May: it was 3.1 percent. I think we will have an average of 2 percent in 2017. This is also a significant contribution to the global economic growth.

Let me remind you that we also have low unemployment of 5.2 percent, our reserves are growing, including the reserves of the Central Bank and the Government. The Central Bank reserves have already reached $412 billion. The federal budget revenues grew by 40 percent, and all this is happening against the background of fairly low inflation of 4.4 percent. All this taken together certainly gives us optimism; however, one cannot say with certainty that this is a long-term trend. We must take care to sustain this growth trend. I have every reason to believe that we will manage to do it.
Visit us! http://russia-insider.com/en
Like us on Facebook: https://www.facebook.com/RussiaInside...
Follow us on Twitter: https://twitter.com/RussiaInsider

• Category

  
  
  • Entertainment
    
    
  
  
  

• License

  
  
  • Standard YouTube License
    
    
  
  
  

• Created using

  
  
  • YouTube Video Editor
    
    
  
  
  

• Source videos

  
  
  • View attributions