Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Monday, December 29, 2008 at 4:40 AM

Comments (0)     Print

Putin says Russia's goals remain despite crisis

Prime Minister Vladimir Putin said Monday that Russia's long-term economic goals would remain unchanged and the financial crisis should "raise adrenaline in the blood" to make the Cabinet work harder.

MOSCOW —

Prime Minister Vladimir Putin said Monday that Russia's long-term economic goals would remain unchanged and the financial crisis should "raise adrenaline in the blood" to make the Cabinet work harder.

Speaking at a Cabinet session wrapping up the year's economic results, Putin said "there is no way Russia would give up its plans" for long-term economic development through 2020.

He admitted that working in a stable economic situation is "nicer", but hard times are more challenging to live in.

"Working in difficult conditions should not bring about stagnation, low spirits or depression," a stern-looking Putin told the government in televised remarks. "It should raise adrenaline in the blood. It is a challenge and an opportunity to show what you're worth."

Putin said the government had set aside a massive package to prop up the economy, adding that the funds would be wisely spent. "The government is not going to throw all the new money into the heat of the crisis without thinking about the result," he said.

Putin also said Russia's economy was expected to grow 6 percent this year - in line with recent forecasts.

Early this year, Russian economic and financial officials projected a 6.6 percent economic growth and then raised its estimate to 7.8 percent in July. Russia's GDP in the first nine months of the year was up 7.7 percent.

"We could have had even more positive results of the economy's development in 2008," Putin noted. "But our economy has long been intergrated into the global one."

Russia's economy has been badly hit by the global meltdown as commodities prices plummeted and the ruble has weakened under the pressure of growing economic woes.

Copyright © 2008 The Seattle Times Company

More Business & Technology headlines...

Print      Share:    Digg     Newsvine

Comments
No comments have been posted to this article.

advertising

UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case

UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip

UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award

UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall

NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

Advertising

Video

Marketplace

Advertising