Putin sets Russia’s economic growth target at 4% in 2021

ST. PETERSBURG, Jun 7 (PRIME) -- Russia’s gross domestic product (GDP) will expand by 4% this year after contracting less than the international economy a year earlier, President Vladimir Putin told the representatives of the international investment community late on June 4 during the St. Petersburg International Economic Forum (SPIEF).

“In 2020, the Russian economy contracted less than the global economy. This year, we will achieve growth of around 4%,” he said, adding that the country showed resilience to external shocks in spite of all challenges and difficulties.

Economic Development Minister Maxim Reshetnikov told reporters that the economy increased by 10.7% on the year in April 2021.

Putin also said that efficient fight against COVID-19 was possible only if all countries join forces, and that Russia was open for cooperation with all countries.

The Sputnik V anti-coronavirus vaccine had a difficult path from skeptical remarks to worldwide approval. Raising production of efficient and affordable vaccines is vital if the world wants to block the spread of the coronavirus, he said.

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