Putin says economic growth too low to raise living standards

MOSCOW, Nov 28 (PRIME) -- Russia’s economic growth is inadequate for boosting the living standards of people, President Vladimir Putin said in a speech on the Russia Calling! investment forum on Wednesday.

“It is evident that the current economic growth is insufficient for significant growth of living standards of our people. We talk about this, we understand this. We are drawing up a vast development program in order to change the situation. We are setting the goal of attaining growth above the global rates,” Putin said.

He also said that the Russian business continues to invest in development in spite of attempts of external pressure and domestic difficulties.

“Capital investment grew by 4.1% in nine months. This business optimism of investors is an important indicator of confidence of the business and we appreciate that.”

The president said that the Russian authorities will provide support to the companies that invest in infrastructure.

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