12:34 GMT +316 October 2018
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    Russian President Vladimir Putin speaks during a session of the St. Petersburg International Economic Forum 2015

    Putin: Russia's Economic Crisis Not Catastrophe, Growth at 3.5% Possible

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    The situation in the Russian economy is not a catastrophe, Russian President Vladimir Putin noted at a plenary meeting of the St. Petersburg International Economic Forum.

    ST. PETERSBURG (Sputnik) — Vladimir Putin said Friday it was viable to achieve an average GDP growth of around 3.5 percent while curbing inflation to about four percent.

    "I have already characterized the current situation, but in no way it is a catastrophe," Putin said at a plenary meeting of the St. Petersburg International Economic Forum.

    "First of all, we would like to ensure the growth of our economy at average global rates of about 3.5 percent in the near future," Putin said, describing the country's priorities.

    "Secondly, we must certainly achieve an annual increase in work productivity at five percent. The third, and very important goal, is to curb [annual] inflation to four percent," Putin stressed.

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    Tags:
    GDP, Russian economy, St.Petersburg International Economic Forum, Vladimir Putin, Russia
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