The economy has recently appeared stronger than analysts had earlier thought.
On new threats to country:
There are so many threats we cannot forecast. But if we maintain the domestic political situation then "no threats will be dangerous to us."
Question: Is the primary strategy to simply wait for the oil prices to go up?
Putin: This is an overly critical question. When you have criticism it makes you look at things freshly. Nevertheless, the plan to stabilize the situation is something that takes "professionalism." We have a "large-scale blueprint" for the economy.
Some budding disappointment among journalists that a whole half hour has focused on macroeconomics. These usually don't get fun until questions from audience...which is starting now.
Kudrin: Your adjustments are not enough
Putin: "part of the blame is yours"
Aleksei Kudrin, former economics minister, to Putin:
If you take this presidential term, even if the oil prices are $65/barrel, our GDP will be at 1.5 percent, which is lower than the world average. We won't have investment and we'll be lagging further and further behind, which could have an impact on the defense industry. These figures will remain for the next three years. "Adjustments are not enough." What is needed for a new development model?
Putin replies: Your forecast is very close to what is likely to happen. [However] you were one of the authors of our 2020 program, which we haven't radically changed. If, with you we couldn't see certain things, part of the blame is yours. We need to improve monetary policy. This is a difficult task but we have to do it, even if it looks scary.
If you want people to trust us, we have to have heart too. If we disregard how people feel and what happens in real life, we can end up with a situation like in the early 90s -- when the government loses the trust of the people.
The U.S. and EU have a lot of public debt. This is alarming. What will happen to them? Can EU leaders handle it?
Kudrin Goes back at Putin with "follow-up"
Putin: On the whole we should do our best for salaries to grow. You're right about that.
Question: Please don't lift sanctions, give us time to create our own organic goods. (Well, not really a question)