December 1, 2016 / 9:45 AM / a year ago

Putin blames economic slowdown on domestic issues

MOSCOW, Dec 1 (Reuters) - President Vladimir Putin on Thursday said Russia’s internal problems were the main reason for the country’s economic slowdown.

A lack of investment, technology, professionals, and issues with the country’s investment climate had all caused problems for the economy, Putin said in his annual state of the nation address in the Kremlin.

Putin said gross domestic product was on track to shrink by 0.6 percent this year. Annual inflation would fall below 6 percent and reach the central bank’s target of 4 percent in 2017, he said. (Reporting by Katya Golubkova and Christian Lowe; Writing by Andrey Ostroukh; Editing by Andrew Osborn)

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