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.
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.
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.
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Putin also said that Russia must move away from a division between civilian and defence companies.
“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.
Putin announced that Russia would also develop defence projects together with friendly states in future, produce weapons jointly and train the relevant cadres.
Overall, he drew a positive conclusion on economic development.
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.
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.”