ST. PETERSBURG, June 17. /TASS/. Russian President Vladimir Putin pointed to the long-term irresponsible macroeconomic policies of the G7 countries, including uncontrolled emission and accumulation of unsecured debts.

"Sharp growth of inflation in the commodity and raw materials markets happened long before the events of this year. The world was consistently driven into this situation by many years of irresponsible macroeconomic policies of the countries of the so-called G7, including uncontrolled emission and accumulation of unsecured debts," he said at the St. Petersburg International Economic Forum (SPIEF).

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World’. The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week are also going to be part of the SPIEF event. TASS serves as the event’s official photo hosting agency and the information partner.