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Putin says Russian economy is facing slight growth

September 03, 2016, 8:15 UTC+3

The Russian economy is slightly growing, according to Vladimir Putin

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VLADIVOSTOK, September 3. /TASS/. The Russian economy is facing a slight growth of around 0.3%, President Vladimir Putin said, adding that the economic growth in the Far East totals 5%.

"Turning the Far East into one of the centers of social and economic development of the country is one of our core priorities,"  the president said at the Eastern Economic Forum on Saturday.

"We see real changes here, first and still important results," he said, adding that the industrial growth in the region exceeds five percent.

"The total growth in the country is rather modest - 0.3%," he added. 

Putin considers it necessary to reach a sustainable demographic increase in the Far East within three years.

"The present demographic indicators are rather modest so far though they demonstrate an emerging trend and we’re willing to pick it up and make it irreversible," he said, adding that "it is necessary to reach a sustainable population growth in the Far East within the next three years."

The president sees a huge interest of political and business circles in the Asian-Pacific and other regions to Russia at this year’s Eastern Economic Forum.

"Last year more than 1 trillion rubles worth of additional investments have been attracted to the region and more than 300 investment projects have been launched," he said, adding that "this means the proposed mechanisms of supporting business are in demand."

A common space for digital economy

Vladimir Putin has proposed the creation of a common space for digital economy and requested the country’s government to set up a schedule.

"We propose to form a common space for digital economy. The issue is also about the creation of a legal and technological base for online cooperation. Also, I’m asking the Russian government to present a particular plan of actions in this direction," Putin said at the plenary session of the Eastern Economic Forum on Saturday.

According to President, the Eurasian Economic Commission (EEC) is also working at creating an integrated information system of cooperation in the areas of transport, foreign trade, customs veterinary, tax and other procedures.

It is necessary to use a wide scope of opportunities for extending cooperation between countries and private companies that emerge due to fast development of digital technologies, Putin added.

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