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Against the backdrop of the war in Ukraine, Russian President Vladimir Putin plans to further expand the country’s defence industry as a pillar of the domestic economy.<\/p>\n
Speaking at the annual St Petersburg International Economic Forum, Putin said the performance of weapons in combat operations should also be taken into account in further arms development.<\/p>\n
Otherwise, the full-scale invasion of Ukraine he ordered in February 2022 – contrary to widespread expectations – did not feature in his speech, which lasted just under an hour.<\/p>\n
Putin also said that Russia must move away from a division between civilian and defence companies.<\/p>\n
“We must constantly analyse technological and organizational innovations in the civilian sector and quickly introduce them into the sphere of defence and security,” the 72-year-old Kremlin leader told a plenary session of the forum.<\/p>\n
Putin announced that Russia would also develop defence projects together with friendly states in future, produce weapons jointly and train the relevant cadres.<\/p>\n
Overall, he drew a positive conclusion on economic development.<\/p>\n
Gross domestic product has grown by more than 4% in each of the past two years, and not just because of arms production, he noted. Meanwhile, inflation had recently fallen – to 9.6%, he said.<\/p>\n
In view of the most recent warnings of a possible recession from Economic Development Minister Maxim Reshetnikov, Putin emphasized: “Stagnation or even recession must not be allowed under any circumstances.”<\/p>\n<\/div>\n<\/div>\n