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    MOSCOW, February 12, 2004 (RIA Novosti) - The Russian economy is developing dynamically, but yet insufficiently dynamically, incumbent President Vladimir Putin, who is standing for re-election, said at a meeting with his authorised representatives.

    The state is rather inefficient as far as its functions and personnel go, said the president. The economic structure needs to be balanced, while social commitments need to be more precisely targeted, said President Putin.

    Some of Russia's CIS neighbours and some East European countries were more decisive in conducting reforms. Many of them went further than simply discussing what Russian experts had worked out for the reform of the pension system, the utilities sector, healthcare, housing construction and other spheres. They employed these ideas and put them into practice.

    The Russian economy continues to be contingent on exports of its mineral resources. "Immense mineral resources is Russia's natural competitive advantage, it is something Russia should not hesitate to use," noted the president. "However, huge intellectual potential of Russian nationals is yet another, even more important, advantage of Russia, which must be used to help it evolve into a high technology and lucrative economy," the president said emphatically.

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