NOVO-OGARYOVO, September 11 (RIA Novosti) - The global credit crunch has not affected Russia's socio-economic development plans, Prime Minister Vladimir Putin said Friday.
"The crisis has not caused any crucial changes to our plans," Putin told a meeting of the Valdai Discussion Club.
To illustrate this, the premier said pensions would be raised in four stages this year, the last 36% hike taking place in December.
However, he admitted that the Central Bank and the government had failed to cope with the influx of investment and the excessive strengthening of the ruble before the crisis hit.
Putin also pointed out that investment in Russia stood at $81 billion in 2007, while some $30 billion was invested in the United States in the same period.
He also had a gloomy forecast for the banking industry, saying, "We forecast a decrease in the current number of banks in Russia."
