Putin says no 'magic wand' to replace rich revenues from energy
ST PETERSBURG, Russia, June 21
ST PETERSBURG, Russia, June 21 (Reuters) - The era of high revenues from energy exports is over and Russia has no "magic wand" to replace those inflows, President Vladimir Putin said on Friday.
Putin told an economic forum in St Petersburg that Russia would continue to try to curb inflation regardless of personnel changes and will invest 450 billion roubles ($13.6 billion) from its Welfare Fund to develop infrastructure.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon |
- Target cyber breach hits 40 million payment cards at holiday peak |
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter