"Why do you think that Russia is less advanced in regard to these reforms?…We need to carry out a whole set of measures, so we are gradually doing that. Regrettably, may be, the effect is not as powerful as we would like it to be — now I finish in a second, patience — but still there is a result," Putin told the television channel Bloomberg, when asked whether the reforms in Russia were a failure compared to the successes seen in China and Vietnam.
"So, structural changes also occur. And it is not just the price but also economic growth, the growth of specific production sectors," Putin added.
Industrial production has been growing across the country, the Russian president said, stressing that in Russia's Far East the growth of industrial production was 5.4 percent.