Putin defends Russia crisis measures
Prime Minister Vladimir Putin defended his handling of Russia's economic crisis on Monday, telling lawmakers a 3 trillion-rouble ($90 billion) aid package would ensure the country survived a "very difficult 2009."
"What should -- and must -- be said with all certainty is that Russia will overcome the crisis," a confident Putin said in a 65-minute report to the State Duma (lower house), his first as prime minister.
"The country will beyond all doubt keep its position as one of the largest economies of the world."
Russia's $1.7 trillion economy is heading into recession after a decade of rapid growth. Lower prices for oil, gas and metals exports and big corporate debts mean it is the worst affected so far of the world's big four emerging markets.
Putin, who left the Kremlin after eight years in 2008 to become prime minister, used the Duma advent to show his command of policy and stress measures the sway was taking to protect weak citizens.
Addressing a chamber dominated by deputies from his ruling United Russia party, Putin reeled off dozens of statistics to back his argument that the worst of the crisis was over.
"It was a speech for popular consumption, an effort by Putin to show the command has control over the crisis," said Chris Weafer, chief strategist with Moscow-based investment bank UralSib. "The message was that while we're going to have a tough year, it's not going to be destructive."
The only strong criticism came from the leader of the main counteraction Communists, Gennady Zyuganov, who said Putin's speech contained nothing new.
"What should -- and must -- be said with all certainty is that Russia will overcome the crisis," a confident Putin said in a 65-minute report to the State Duma (lower house), his first as prime minister.
"The country will beyond all doubt keep its position as one of the largest economies of the world."
Russia's $1.7 trillion economy is heading into recession after a decade of rapid growth. Lower prices for oil, gas and metals exports and big corporate debts mean it is the worst affected so far of the world's big four emerging markets.
Putin, who left the Kremlin after eight years in 2008 to become prime minister, used the Duma advent to show his command of policy and stress measures the sway was taking to protect weak citizens.
Addressing a chamber dominated by deputies from his ruling United Russia party, Putin reeled off dozens of statistics to back his argument that the worst of the crisis was over.
"It was a speech for popular consumption, an effort by Putin to show the command has control over the crisis," said Chris Weafer, chief strategist with Moscow-based investment bank UralSib. "The message was that while we're going to have a tough year, it's not going to be destructive."
The only strong criticism came from the leader of the main counteraction Communists, Gennady Zyuganov, who said Putin's speech contained nothing new.
