Russian President Vladimir Putin called on the government to return the economy to a path of stable growth starting in 2027. In a speech delivered at the plenary session of the 29th St. Petersburg International Economic Forum on June 5, Putin said that one of the key conditions for achieving this goal is to increase investment and launch a new investment cycle.
Putin stated that real investments in Russia increased by approximately 38 percent during the 2021–2024 period, but that this growth slowed last year. Putin stressed that launching a new investment cycle is one of the government’s top priorities in managing the economy, saying the rate of investment growth is also a key indicator of economic institutions’ performance.
The Russian leader said that to ensure balanced economic growth, a model based on domestic demand must be strengthened and the downward trend in inflation must be sustained. Noting that inflation has declined significantly in recent times, Putin stated that the inflation rate is expected to be around 5.2 percent this year.
Putin also touched on the balance between economic independence and international cooperation in his speech, stating that a strong and sovereign state cannot isolate itself from the world.
Meanwhile, claims that Russian Foreign Minister Sergey Lavrov would be stepping down also surfaced during the forum. Russian Foreign Ministry Spokesperson Maria Zakharova denied these rumors, stating that Lavrov remains in his position.
Zakharova described Lavrov as “an outstanding diplomat and leader who successfully fulfills his duties in the interests of his country,” and argued that the reports of his resignation do not reflect the truth and are being spread by circles hostile to Russia.
