Putin Sets New Goal for Growth

As President Vladimir Putin made his Annual Address to the Federal Assembly earlier today, he set the goal of reaching growth rates above the world average within the next 3-4 years.

The President also set objectives in the financial sector, agribusiness, and the banking sector, and declared the need to free Russia from dependence on foreign technology.

- Import substitution is a long term strategy, the President said, and this is also a goal for Russia regardless of the situation with sanctions, according to the President’s official webpage.

Putin delivered the annual Presidential Address at the Kremlin’s St.George’s Hall, and the Russian newsagency Sputnik quote him saying that Russia seeks to have as many reliable partners around the globe as possible, and that Moscow will never sever ties with Europe and the US.

- Under no circumstances are we going to scale back our ties with Europe and the US. At the same time we will revive and expand traditional ties with the south of the American continent, we will continue to cooperate with Africa, with countries in the Middle East," Putin said.