President Putin speaks to foreign investors at St. Petersburg international economic forum
BOFIT Viikkokatsaus / BOFIT Weekly Review
2015/26
​Putin thanked investors who have continued to operate in Russia despite the political situation. He noted that, because the economy was in better shape than many had feared at the end of last year, Russia could now return to dealing with its structural challenges such as improving the business environment. The latest plan to attract investment largely relies on preferential tax treatment: the corporate tax burden is not to be increased over the next four years, and small and medium-sized enterprises, as well as newly established firms, are to get special tax breaks. Putin assured listeners that the Russian economy was on track for growth and development. Many observers were puzzled by the president’s optimistic take on the current state of the economy, as well as the narrowness of solutions proposed to deal with difficult, long-standing structural problems.