Key Points from President Putin’s Address at the St. Petersburg Economic Forum

President Vladimir Putin delivered an important speech at the St. Petersburg International Economic Forum, which is attended by Algerian President Abdelmajid Tebboun.

In his speech, Putin touched upon the political and economic international situation, as well as the state of the Russian economy in the light of the sanctions, and most importantly, what was said in his speech:

  • Vladimir Putin: The second quarter of last year was the most difficult for Russia, then everything developed quickly, and today I can say with confidence that Russia’s strategy was a success.
  • Vladimir Putin: GDP grew by 3.3% in April.
  • Vladimir Putin: The manufacturing industry stood at 2.9%, despite the fact that this industry suffered the most from the blockade.
  • Vladimir Putin: What we talked about last year is the result of the joint work of the government and entrepreneurs, which we prepared and implemented on the ground, and this has now borne fruit.
  • Vladimir Putin: Inflation in Russia is now much lower than in many countries of the West and the European Union.
  • Vladimir Putin: Inflation in Russia is 2.2%, a historical precedent.
  • Vladimir Putin: The financial system in Russia is generally stable.
  • Vladimir Putin: Our private sector and our companies have been able to fill the void left by Western companies that have left Russia.
  • Vladimir Putin: We have not kicked anyone out of our markets, we have always counted on being given the opportunity to choose and study markets, but all the brands that sell their goods here are Russian goods with a foreign brand. Therefore, production did not stop, the brand simply changed.
  • Vladimir Putin: 90,000 proposals have been submitted for trademarks. Now please do not allow the return of Western companies.
  • Putin: Railways made it easier to access the Far East, reduced the transport crisis, made it easier to reach Asian countries, and the government changed the shipbuilding program, since under this program it is planned to build more than 2,600 new ships in 2023-2027, in addition to ships under construction for the Northern Military -Marine fleet this year increased by about 34 million tons, and next year will increase exponentially, which indicates the importance of developing these modes of transportation.
  • Vladimir Putin: We are developing communication networks; last year about 300,000 kilometers of communication lines were installed.
  • Vladimir Putin: We will connect another five million users to the Internet.
  • Vladimir Putin: There has been a significant increase in domestic tourism, which increased to 16.7% in 2022, which is 10 million people who used to travel within the country, which is developing the tourism industry.
  • Vladimir Putin: Despite the obstacles, last year we did not follow the path of isolation, but dealt with partners who play the role of a locomotive in the development of our economy.
  • Vladimir Putin: Leading countries are not subject to pressure from the West, the volume of transactions with them has increased, and now economic markets are working more than political changes. The old colonial order is dying out in favor of a multipolar world.
  • Vladimir Putin: Russia will help with food programs for African countries suffering from poverty.
  • Vladimir Putin: Russia has both enemies and friends. They are accustomed to domination and exploitation, and do not want banking systems in other countries, and do not want any competition, and curb the centers of development and development.
  • Vladimir Putin: Russia has been and will remain a player in the international arena.
  • Vladimir Putin: We will determine the mechanism for creating cross-border accounts and opening accounts for foreign companies.
  • Putin: Most of the trade of the Eurasian Union is carried out in Russian rubles
    Vladimir Putin: We must develop and modernize export mechanisms to make them more flexible and business-friendly, and today we are entering friendly markets, we need to adapt to them, guaranteeing and securing goods, supporting manufacturers and exporters, giving them more guarantees.
  • Vladimir Putin: We must promote our products via the Internet, and any small business can find a market for them via the Internet. We have good prospects in this area.
  • Vladimir Putin: We propose to declare an amnesty for forced currency violations that were committed during the freeze period.
  • Vladimir Putin: We have maintained the growth of our economy, it has become clear to everyone, participation in world markets remains, we participate with many companies, we have maintained a good standard of living for Russian families. We have compensated for the damage caused by the economic blockade and the withdrawal of foreign companies.
  • Vladimir Putin: The economy of initiatives requires increasing production capacities, strengthening infrastructure, using modern technologies, building new industrial fields, even those industries that did not appear before now have opportunities, which is what the initiative economy requires.
  • Putin: The changes taking place in the world are profound, radical and irreversible
    Vladimir Putin: It is necessary to increase remote work, especially in hard-to-reach regions.
  • Vladimir Putin: Increasing the average income index to 6.3%, to 18.5% in 2024, to be above the inflation rate in the country.
  • Vladimir Putin: No one thought that property law violations in the West would reach such proportions. It takes us back to the Middle Ages. This is theft.
  • Putin to President Tebbun: Perhaps you will find something useful in our experience for the economy of your country
  • Vladimir Putin: No one thought that violations of property laws in the West would reach such proportions. It takes us back to the Middle Ages. This is theft.
  • Vladimir Putin: Making money in Russia and placing it in foreign accounts is unacceptable.
  • Vladimir Putin: I ask the Cabinet of Ministers to expedite the return of Russian assets in key industries to local jurisdiction.
  • Putin: The war in Ukraine was initiated by the Ukrainian regime with the support of Western countries in 2014. In the West, everyone prefers not to talk about it, but I have to remind you that aviation, tanks and artillery were used in 2014.
  • Vladimir Putin: Our partners have officially abandoned the peace settlement. We used the military to stop this war. The innocent are punished for the guilty. These attempts are doomed to failure. It was they who signed the agreements and publicly declared that they were deceiving.
  • Vladimir Putin: The West is doing everything possible to “strategically defeat Russia on the battlefield.” But we aimed at the destruction of the Ukrainian military machine and the elimination of Nazism.
  • Vladimir Putin: All weapons in Ukraine are from abroad, this will not last forever. Our factories are working day and night and we have large stocks of weapons and ammunition.
  • Vladimir Putin: Some on the front see how Ukrainian units come to the front line of defense, but use the strategic reserve to break through the defense. But there is no sector in which they would be successful.
  • Putin: The loss of the Ukrainian side for the Russian side is 1 to 10
  • Vladimir Putin: The Russian Ministry of Defense is publishing figures, but it is known for sure that there is no success on the Ukrainian side. Now there is an attempt on some sectors of the front by units in the Zaporozhye direction, and they have entered the first line of defense. But the Ukrainian armed forces have no chance of progress.
  • Vladimir Putin: I say that a number of my friends are Jews, they tell me that Zelensky is a disgrace to the Jews.

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