ST. PETERSBURG, June 16. /TASS/. Russian President Vladimir Putin has tasked the government and the Central Bank with presenting proposals on investing funds received from ‘high export’ in expansion of investment in systemic projects.

"I am asking the government, the Bank of Russia to present particular proposals how to encourage investment, expand investing in large, systemic projects in infrastructure, logistics, territorial development and other areas using the funds flowing to the country from high export; in projects that will permit boosting the possibilities of local business on a widest range, increase its competitiveness, including on global markets," he said at the St. Petersburg International Economic Forum (SPIEF) on Friday.

In January-April Russia’s foreign trade grew by $22.6 bln, Putin said, adding that "during the whole 2022 current account surplus amounted to $233 bln." "This resource must more actively work for the development of the Russian economy, including imports of cutting-edge equipment, technologies, components and materials," he noted.

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is theme of this year’s forum. TASS is the official information partner of the event.