Friday, 16 June 2023

Day Three of St Petersburg International Economic Forum

Day Three of St Petersburg International Economic Forum

Day Three of St Petersburg International Economic Forum










The St. Petersburg International Economic Forum (SPIEF) is an annual event that brings together political leaders, business executives, and experts from around the world to discuss and address key economic issues. This year, the forum is held between 14 and 17 June.







On the third day of SPIEF Russian President Vladimir Putin will attend the forum, which this year is being held under the theme "Sovereign Development - the Basis for a Just World. Let us unite our efforts for the sake of future generations". The head of state will traditionally make a keynote speech at the plenary session of the forum.


High-ranking representatives from Algeria, India, Qatar, Pakistan, Venezuela, Hungary, Myanmar, Nicaragua and the United Arab Emirates (UAE) will also be present at the event. At this year's forum, the UAE enjoys the privileged "guest country" status, with Minister of Economy Abdulla Bin Touq Al Marri leading the country's delegation.



Putin Addresses SPIEF 2023 Plenary Session



The St Petersburg International Economic Forum (SPIEF) is running from 14 to 17 June at the ExpoForum Convention and Exhibition Center.


Sputnik comes live as Russian President Vladimir Putin and his Algerian counterpart Abdelmadjid Tebboune address the plenary session of the 26th St Petersburg International Economic Forum. In his speech, Putin will give a detailed assessment of the Russian economy and outline its main prospects.


Kremlin spokesman Dmitry Peskov earlier told reporters that the plenary session in which Putin was taking part would last about two hours.






'Multipolar World Order Strengthening, This is Inevitable Process' - Putin



The escalation of the Ukrainian crisis into a full-blown NATO-Russia proxy war last year served to accelerate the creation of an alternative to the US and Western-led global order.


The emerging multipolar world order is strengthening, and Russia's adversaries have failed utterly in their push to isolate the country from the international economy, President Vladimir Putin has said.








"Objective market laws work stronger than the current political conjecture. This shows that the ugly neocolonial international system, which is ugly in its essence, has ceased to exist, while the multipolar world order is strengthening. This is an inevitable process," Putin said in a plenary address at the St. Petersburg International Economic Forum on Friday.



UAE Hopes to Welcome 1Mln Russian Tourists This Year - President



President of the United Arab Emirates Mohamed bin Zayed Al Nahyan said on Friday that this year his country hopes to host 1 million Russian tourists.


"I believe that cooperation between the private sectors of the two countries plays a big role in the development of our bilateral relations. For example, bilateral tourism is developing greatly. We hope to welcome 1 million Russian tourists this year," Al Nahyan said at talks with Russian President Vladimir Putin on the sidelines of the St. Petersburg International Economic Forum (SPIEF).



Putin Expects Russia's GDP to Grow by About 1.5-2% by Year End



Russia's GDP growth by the end of 2023 may be about 2%, and in April it increased by 3.3%, Russian President Vladimir Putin said on Friday.


"I agree with those of our experts who believe that the growth [of GDP] will still be up to 1.5%, and maybe more — under 2%. This will help our country to keep its place among the leading economies of the world," Putin said during his address at the St. Petersburg International Economic Forum (SPIEF).



Putin: Russia Must Increase Defense Spending to Ensure Country's Security



Russia must to increase spending on strengthening the defense and security of the country, this must be done to protect sovereignty, Russian President Vladimir Putin said on Friday.


"Naturally, additional funds were needed to strengthen defense and security, and to purchase weapons. We must do this to protect the sovereignty of our country. I must say that in general, and it justifies itself, including from an economic point of view," Putin said during his address at the St. Petersburg International Economic Forum (SPIEF).



Inflation in Russia Lower Than in Many Western Countries and Close to Historical Low of 2.9% - Putin



Inflation in Russia is now lower than in many Western countries and is close to its historical low, Russian President Vladimir Putin said on Friday, adding that it amounts to 2.9%.


"We have maintained a responsible, balanced budgetary and monetary policy. Their effective combination made it possible to reach the minimum figures of unemployment, as well as inflation, which is now lower in Russia than in many Western countries — both in the eurozone and in other regions — and is close to the historical minimum, is 2.9%," Putin said during his address at the St. Petersburg International Economic Forum (SPIEF).








Putin to Address Special Operation, Its Effect on Economy at SPIEF - Kremlin



Russian President Vladimir Putin is still open to any contacts to discuss options Ukrainian settlement, Kremlin spokesman Dmitry Peskov said on Friday.


"President Putin was, is and remains open to any contacts in order to discuss possible options for solving the Ukrainian problem," Peskov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF). The Ukrainian problem can be solved in many ways, the official said, adding that the Russian leader supports any set of ideas to end the conflict.







Russia Not in Economic Isolation, No Vacuum Possible in Economic Affairs - Kremlin



Russia is not in economic isolation, there can be no vacuum in economic relations because when some directions are closed, others open, Kremlin spokesman Dmitry Peskov said on Friday.






"[Russia] is certainly not in isolation. There can be no vacuum in economic affairs. If some directions are closed, then other directions automatically open and become more profitable and more profitable," Peskov said.



Russian, UAE Heads to Meet in St. Petersburg Ahead of SPIEF Plenary Session - Kremlin



UAE President Sheikh Mohamed bin Zayed Al Nahyan will arrive in St. Petersburg on Friday and hold a meeting with Russian President Vladimir Putin ahead of the St. Petersburg International Economic Forum (SPIEF), Kremlin aide Yury Ushakov said.


"On June 16, UAE President Mohamed bin Zayed Al Nahyan will arrive in St. Petersburg. In the morning of June 16, he will hold a meeting with president Putin, during which they will consider issues related to the work of the forum, and, of course, issues of the development of bilateral relations will be discussed in general terms. Also, of course, topical international and regional problems will be discussed," Ushakov told reporters.


The talks between the leaders will take place "immediately before the [SPIEF] plenary session," the official said, adding that the presidents "developed trusting, constructive relationships."























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