Arab Today, arab today putin sees russian economy advancing despite unfavorable conditions
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Putin sees Russian economy advancing despite unfavorable conditions

Arab Today, arab today

Arab Today, arab today Putin sees Russian economy advancing despite unfavorable conditions

Moscow - XINHUA

Despite unfavorable situation in the global economy, the Russian economy has been moving forward so far in 2013, President Vladimir Putin said Thursday. It is not enough to rely on oil export solely and internal sources of development should be found, Putin told a government meeting. The president recalled the 1960-70s when aboundant oil reserves were discovered in the former Soviet Union, "which enabled the economy to relax, without thinking about innovations and other internal factors of development." "We must think about cutting inefficient spending, and about improving business climate, to work with infrastructure, and to lower interest rates," he said. Putin urged the government to become open to society and the business community. The government must be open not only in name, but in reality as well, he noted. According to Putin, the government's work in 2013 has been satisfactory but more should have been done, and the government has potential to yet tap. "I consider the results positive. But of course, the work can be much better," he said.

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