All news

Putin requests preventing economic recession in Russia

One of the main tasks for this year is to ensure the shift of the economy to the balanced growth trajectory, the Russian president added

ST. PETERSBURG, June 20. /TASS/. Experts project risks of stagnation and recession in Russia, which should be prevented, President Vladimir Putin said at a plenary session of the St. Petersburg International Economic Forum (SPIEF).

"In the first four months of this year Russia’s GDP added 1.5% in annual terms. In particular, growth accelerated to 1.9% in April. That said, some specialists and experts note stagnation and even recession risks. This should obviously be prevented," he said.

One of the main tasks for this year is to ensure the shift of the economy to the balanced growth trajectory, Putin added. "We should reach moderate inflation and low unemployment. Figures show that annual inflation has already decreased to less than 10%. As of June 16, it equaled 9.6%," 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.