Little to Show for Year, Putin Admits
President Vladimir V. Putin admitted Tuesday that his government has done little to raise low living standards and warned that Russia’s overreliance on raw material exports puts it at the mercy of swings in the world economy.
In his annual state of the nation address, Putin urged economic reform, warning that the alternative “is a road to economic and social stagnation.”
Putin delivered the speech to the political elite in the Kremlin’s Marble Hall. The address was broadcast on all major TV stations but was mostly devoid of appeals for public support.
The foreign policy portion of the address was short, and Putin made no mention of relations with the United States.
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