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Putin: Russia Has Myriad Possibilities to Launch New Economic Model

Participants in festive events at the Grand Sports Arena in Luzhniki in Moscow, dedicated to Russian Flag Day, as part of the Moscow Urban Forum 2023.

MOSCOW (Sputnik) – Russia has myriad possibilities, including financial, to establish a new economic model, including financial ones, Russian President Vladimir Putin said on Thursday.”We are talking about broad frontal development of the economy and social sector, the creation in Russia of virtually new sectors and directions in industry, the service sector … The main thing is that we have all necessary opportunities for the implementation of these and other initiatives. There are all opportunities for the deployment of a new model of economic growth, including solid state resources and the capabilities of our domestic business,” Putin said at a meeting of the Russian Union of Industrialists and Entrepreneurs (RSPP). EconomyRussia’s GDP Growth Accelerates to 7.7% in February – Economic Development Ministry3 April, 18:28 GMTThe Russian state will continue supporting business in the country, the president added.

"The state will continue supporting businesses in Russia so that they launch promising projects, increase capital investments and create new jobs. In short, [so that] they act in business interests and work to improve the well-being of citizens and the well-being of Russian families," Putin noted.

The RSPP is an umbrella organization that promotes and protects the interests of businesses. It includes both private and state-owned companies as well as factories and plants.

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