Russian economic slowdown has mainly domestic causes - Putin
MOSCOW Dec 12 (Reuters) - Russia's economic slowdown is mainly being driven by domestic causes, President Vladimir Putin said on Thursday, singling out low labour productivity as a problem.
"We have to be clear: The main reasons for the economic slowdown are not external but internal," Putin said in an annual address to lawmakers and officials in the Kremlin.
Putin had previously blamed weak global conditions for Russia's economic slowdown. His government has since cut its long-term growth forecast to 2.5 percent through 2030, meaning Russia will lag behind the world economy and other leading emerging economies.
- Ten countries scour sea for Malaysia jet lost in 'unprecedented mystery' |
- Confrontation in Ukraine as diplomacy stalls |
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Mexico kills drug kingpin reported dead years ago: official
- Pistorius vomits in court at Steenkamp autopsy details |