STRELNA, June 6. /TASS/. In recent years, Russia has been able to change the development vector of its economy, basing it on production instead of raw material exports, Russian presidential spokesman Dmitry Peskov told Izvestia.

"The most important thing <…> is that we are able to change the vector of economic development. We are developing through production, through processing, services, and not the oil industry," he said.

At the same time, Peskov noted that the oil and gas sector "remains, naturally, one of the main pillars" of the budget. "High-quality economic development is extremely important," Peskov added.

Peskov noted that the St. Petersburg International Economic Forum (SPIEF) is keeping its level and representation. "We have lost the bunch of businessmen but not so many," the Kremlin Spokesman said, adding that many are participating nevertheless. "It is not so obvious visually - everyone is afraid of secondary sanctions," Peskov said. "There is a need to be vigilant," he noted.

The St. Petersburg International Economic Forum (SPIEF) is held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.