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Russia Seeks New Investment Cycle as Putin Expects Inflation Near 5.2% This Year

06/06 13:48

Russian President Vladimir Putin said the government’s task is to work from next year to restore steady economic growth, and that one condition for achieving this is increasing investment and launching a new investment cycle. According to Jin10, Putin made the remarks on June 5 at the plenary session of the 29th St. Petersburg International Economic Forum. Putin said Russia’s real investment rose by nearly 38% from 2021 to 2024, but declined last year. He described the launch of a new investment cycle as a key task for the government’s economic agencies, adding that investment growth is an important indicator for evaluating their performance. He also said balanced economic growth requires relying on domestic demand and keeping inflation on a downward trend. Putin said inflation has slowed significantly and is expected to be close to 5.2% this year. Putin said a strong sovereign state cannot be closed off. He said Russia should both produce critical products independently and strengthen infrastructure construction, while also expanding exchanges with foreign partners, carrying out cooperation, and advancing cross-border cooperation projects.

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