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Putin says Russian economy stable, acknowledges issues exist

During the plenary session, the president also pointed to rapid growth in the country’s manufacturing sector and a record low unemployment rate

ST. PETERSBURG, June 20. /TASS/. Russian President Vladimir Putin says that the country’s economy is stable, but not without its issues.

"There are issues - a lot of them - that we must resolve. Yes, and in the banking sector there are things that require special attention. But overall, our situation is stable and sound. I hope that it will remain like this," the head of state said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

During the plenary session, the President also pointed to rapid growth in the country’s manufacturing sector (7%-7.2%) and a record low unemployment rate of 2.3%. He also said that he expects the inflation rate to decrease to 7% by the end of the year.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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