Putin reiterates tough stance against western pressure
Updated: 2014-12-19 08:54
(Xinhua)
|
|||||||||||
Russia's current difficult economic situation is primarily caused by external factors, but also reflects the Russian economy' s insufficient diversification, Putin said.
It's rather difficult to reshuffle the economic mechanism, he said, as businessmen would try to invest where they could get the maximum and quickest profits under a favorable investment environment.
"We have been applying various instruments for several years to create more favorable conditions for developing the manufacture industry and increasing production. But the process is getting more difficult, especially when it is more profitable to invest in the energy sector," said the president.
Admitting Western sanctions against Russia seriously damaged its national economy, Putin insisted that the current situation can be used to offer additional conditions for production businesses, which would be a start to diversify the economy.
"External conditions would urge us to be more effective and shift to more innovative development ways," he noted.
Putin specified that for the successful development of Russian economy, businesses should be provided with a favorable and free environment, as property right should be guaranteed and preferences for production be enhanced.
Relevant measures mentioned in his state-of-the-nation address on Dec. 4 would be the concentration of Russian government for a period of time and be consolidated with practical and effective policies, Putin said.
He noted that it would take at most two years for the Russian economy to rebound under the most unfavorable scenario.
"I said that even given the most unfavorable internal market condition, this situation may last for about two years...But the situation may start improving even earlier...in the first, second quarter, in mid-2015 or at the end of next year. No one can say for sure," according to Putin.
Subsequent growth and recovery from the current situation is " inevitable" amid the overall growth of the global economy, Putin said. "Additional energy resources will be consumed as the world economy expands."
The president reiterated that the government should do much more to diversify the Russian economy, as "it would simply be impossible to function otherwise."
Related Stories
Geely Auto sees 2014 profit halving on Russia, exports 2014-12-18 10:15
Russia's richest lose $10b 2014-12-18 10:12
Obama to sign Russia sanctions bill, White House says 2014-12-17 14:23
Harbin aims to be central city for Sino-Russia cooperation 2014-12-16 16:16
Russia has ability to tide over oil crisis 2014-12-16 08:49
China, Russia pledge to strengthen cooperation 2014-12-15 17:46
Today's Top News
Pyongyang denies cyberattack on Sony
Nation to become net capital exporter
Beijing willing to assist Moscow
Australian PM denies cabinet reshuffle sign of desperation
Obama vows again to close Guantanamo prison
China revises 2013 GDP up by 3.4%
China-US economic talks conclude with fruitful outcomes
Ties between China and Oceanian countries enter new era
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
National Memorial Day for Nanjing Massacre victims |
Corrupt female officials spark debate |
Blue skies ready to greet APEC |
Growth pangs |
Sea change |
'Old newcomers' |