ST. PETERSBURG, June 20. /TASS/. Russia’s GDP growth is tied not only to the military industrial sector, President Vladimir Putin said at a plenary session of the St. Petersburg International Economic Forum (SPIEF).
"Total growth of GDP was tied not only to the military industrial complex as some think. Yes, of course, the military industrial complex has played its role in this regard, though we should still look closely at the structure of this growth," he said.
"In two years, growth was registered in agriculture, industry in general, the construction sector, logistics, the area of services, finance, and the IT industry, which means almost all key, systemic sectors of the domestic economy," Putin said, adding that this demonstrates that "thanks to the work of tens of thousands of enterprises and companies, their teams, managers, thanks to the initiative, the work of millions of businessmen our economy is not only confidently developing but also diversifying."
The idea of the Russian economy as a raw materials economy dependent on hydrocarbon exports is obviously outdated and becoming a thing of the past, the president noted. "The reality tells a different story," he said.
The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the Forum. TASS is its information partner.