RUSSIA: President Vladimir Putin criticises the government over its implementation of his decrees from last year, saying the economic slowdown is mainly due to domestic issues

Record ID: 861859

  • Title: RUSSIA: President Vladimir Putin criticises the government over its implementation of his decrees from last year, saying the economic slowdown is mainly due to domestic issues
  • Date: 12th December 2013
  • Summary: MOSCOW, RUSSIA (DECEMBER 12, 2013) (RUSSIAN POOL) KREMLIN HALL WITH PEOPLE SEATED BEFORE ADDRESS RUSSIAN PRESIDENT VLADIMIR PUTIN ENTERING HALL PHOTOGRAPHERS (SOUNDBITE) (Russian) RUSSIAN PRESIDENT, VLADIMIR PUTIN, SAYING: "It has been a year and a half since I issued the decrees, but you know what I see - either something is done in the way that it causes the negative reaction in the society, or nothing is done at all." VARIOUS OF RUSSIAN PRIME MINISTER DMITRY MEDVEDEV LISTENING PEOPLE LISTENING (SOUNDBITE) (Russian) RUSSIAN PRESIDENT VLADIMIR PUTIN, SAYING: "(ON WIDE OF PUTIN SPEAKING) We have to be clear here. The main reasons for the economic slowdown (BACK TO CLOSE OF PUTIN) are not external, but internal. If you look at the GDP, and this is of course good, we are now among the top five economies in the world. But if you look at such a key indicator as labour productivity, we lag leading economies by a factor of two or three." VARIOUS OF PEOPLE LISTENING PUTIN SPEAKING
  • Embargoed: 27th December 2013 12:00
  • Keywords:
  • Location: Russian Federation
  • City:
  • Country: Russia
  • Topics: Economy,Politics
  • Reuters ID: LVA865X1497H64JJIIMQS8ZOGDCU
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  • Story Text: Russia's economic slowdown is mainly being driven by domestic causes, President Vladimir Putin said on Thursday (December 12) in his annual address to lawmakers and officials. He criticised the government over its implementation of his last year's decrees.
    "It has been a year and a half since I issued the decrees, but you know what I see - either something is done in the way that it causes the negative reaction in the society, or nothing is done at all," said Putin in an address in the Kremlin.
    Putin's third presidential term has been marked by a slowdown and the government has slashed its forecast for economic growth this year to 1.4 percent.
    Long-term growth is likely to average 2.5 percent, lagging the world economy and other emerging markets. The government meanwhile risks exhausting its rainy-day savings in three years, officials warn.
    "We have to be clear here. The main reasons for the economic slowdown are not external, but internal. If you look at the GDP, and this is of course good, we are now among the top five economies in the world. But if you look at such a key indicator as labour productivity, we lag leading economies by a factor of two or three," Putin said.
    He had previously blamed weak global conditions for Russia's economic slowdown.
    Putin also said he saw no reason to abandon spending pledges he made when he began his third presidential term last year, despite a more challenging economic environment.
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