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Ministry of economic development of the Russian Federation

Vladimir Putin expects Russian economy to survive turbulence and grow stronger

11.03.2020

Russian President Vladimir Putin believes that there is every chance that key industries will overcome the crisis and come out of the situation stronger, said he at a meeting with investors on Wednesday.

"I’m sure that Russia will go through this turbulent period with dignity, calmness, moreover, we’ll talk about it now, I think you will support me, there is every chance that the key sectors of the Russian Federation’s production will come out of this situation much stronger and ready for further serious competition," he said.

He also drew investors' attention to how the Central Bank and the government react to the economic crisis phenomena. "I want to note both institutes have enough tools, enough resources to maintain stability and conditions of macroeconomic stability," Putin said.

The President said that the efforts made by the Central Bank and the government will ultimately have a positive impact on the entire economy of the country. "The task of the government and the Central Bank is to ensure that all negative phenomena associated with these processes are minimized and that Russian citizens do not feel any negative effects associated with this," Putin said.

When opening up the meeting with Russian investors, President Putin emphasized that he considers the upcoming conversation particularly useful, given the turbulent processes in the economy that have taken place in recent days. "Our meeting with you was planned before various; so to speak, turbulent processes began on the energy markets and after them in the stock and currency markets. The more useful, it seems to me, the more interesting our today's conversation will be," he said.

The meeting was attended by Altera Capital managing partner Kirill Androsov, RTR-Global founder Leonid Boguslavsky, founder and CEO of the Yandex group of companies Arkady Volozh, founder and managing partner of Almaz Capital Partners Alexander Galitsky, RDIF CEO Kirill Dmitriev, first deputy president and chairperson Board of VTB Bank Yuri Soloviev. Prime Minister Mikhail Mishustin and Presidential Aide Maxim Oreshkin were present at the meeting.

Source: TASS



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