Towards the backdrop of the struggle in Ukraine, Russian President Vladimir Putin plans to additional broaden the nation’s defence business as a pillar of the home economic system.
Talking on the annual St Petersburg Worldwide Financial Discussion board, Putin stated the efficiency of weapons in fight operations also needs to be taken into consideration in additional arms growth.
In any other case, the full-scale invasion of Ukraine he ordered in February 2022 – opposite to widespread expectations – didn’t characteristic in his speech, which lasted just below an hour.
Putin additionally stated that Russia should transfer away from a division between civilian and defence firms.
“We should continuously analyse technological and organizational improvements within the civilian sector and shortly introduce them into the sphere of defence and safety,” the 72-year-old Kremlin chief instructed a plenary session of the discussion board.
Putin introduced that Russia would additionally develop defence tasks along with pleasant states in future, produce weapons collectively and prepare the related cadres.
Total, he drew a constructive conclusion on financial growth.
Gross home product has grown by greater than 4% in every of the previous two years, and never simply due to arms manufacturing, he famous. In the meantime, inflation had lately fallen – to 9.6%, he stated.
In view of the latest warnings of a attainable recession from Financial Growth Minister Maxim Reshetnikov, Putin emphasised: “Stagnation and even recession should not be allowed underneath any circumstances.”
