7 Jun 2023 13:41

SPIEF 2023 to address prospects for Russian, global economies - Putin

MOSCOW. June 7 (Interfax) - The prospects for the Russian economy and global transformations will be discussed at the St. Petersburg International Economic Forum (SPIEF) this year, Russian President Vladimir Putin said.

"As in the past years, the event's rich and substantive agenda covers a broad range of relevant and significant issues. Scientists, entrepreneurs, politicians and public figures will discuss key trends and prospects related to the Russian and global economy. They will examine the profound tectonic shifts that are gaining momentum today. These are in no small measure due to the ongoing formation of a multipolar world and efforts by most countries to secure political and economic independence," Putin said in his greetings to the forum's participants which were published on the Kremlin website.

He described the theme for this year's forum, Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations, as both vital and timely.

"I should note that the Russian business community continues to be active in today's economic reality. I would therefore like to once again express my gratitude to all those working at companies and organizations, whether in senior positions or as team members, for having done much to overcome the severe consequences of unlawful sanctions. According to experts, the global economy will continue to decelerate in 2023, while Russia's GDP could grow by 1%-2%," Putin said.

At the same time, it is vital to make the most of the opportunities that are presenting themselves, and focus on attaining technological and financial sovereignty, forging strong ties, developing optimal logistics routes, improving infrastructure, and tackling inequality and poverty, he said.

"Boosting the labor market is another priority. In order to achieve this, there needs to be a close partnership between the state and the business community, particularly with regard to introducing lean manufacturing technology and modernizing enterprises. And of course, more work is needed to optimize professional training and retraining programmes and improve the national employment service," Putin said.