Putin says Russia committed to openness, economic cooperation

MOSCOW, Jun 6 (PRIME) -- The Russian economy maintains its commitment to openness and broad international cooperation, the Kremlin quoted President Vladimir Putin as saying on Monday.

"I am convinced that the 2020s will become for the Russian economy a period of strengthening economic sovereignty, which means accelerated development of our own infrastructural and technological foundation, a qualitative increase of professional expertise and establishment of an independent and efficient economic system," Putin told the participants of the St. Petersburg International Economic Forum (SPIEF).

He added that the economy will be increasingly based on private initiative and "maintain commitment to openness and broad international cooperation."

Putin also said that the faults that the Western economies had accumulated over many years and illegitimate sanctions have triggered global inflation and growth of poverty and food shortages, and ruined logistic chains.

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