Russian President Vladimir Putin spoke this Thursday (3) at the plenary session of the Eastern Economic Forum, held in the Russian city of Vladivostok, between September 1 and 4. He outlined the government’s plans for Russia’s economic situation, highlighting the country’s strategy for the development of the Arctic and Far Eastern regions.
The main theme of the forum was “Far East: Development for the Benefit of the People”. The Russian president called for the region to become the center of the country’s economic growth.
Putin emphasized that the Far East surpasses other regions of Russia in many aspects, highlighting its growing potential in natural resources, industry and logistics. According to him, over the past 11 years, the region has attracted approximately 25 trillion rubles (R$1.7 trillion) in capital investments, while the unemployment rate in the region has recently decreased fourfold.
When talking about the country’s current economic situation, Putin highlighted that inflation in Russia is 6.3% per year, and the goal of controlling it is being achieved, despite threats of a hyperinflation peak.
“Investment has indeed declined recently due to a number of reasons, including, most importantly, the deliberate policy of the Central Bank and the Russian government. The aim is to control inflation. We could not allow any hyperinflation; that threat existed,” he added.
According to the Russian president, the country’s authorities fully understand the importance of not cooling the economy too much. He also highlighted that, despite the recent slowdown, GDP growth in the last three years was “significantly higher than the European average”.
“It is crucial not to cool the economy too much. We understand this perfectly. From the beginning, when we started this work, we knew this and acted accordingly. […] Yes, there is a deficit [orçamentário]but not critical. Considering that we have one of the lowest public debt rates in the world, there is nothing critical here”, he highlighted.
Strategic partnership with China
The forum’s plenary session also featured the participation of the Vice Premier of the State Council of the People’s Republic of China, Ding Xuexiang, who highlighted that, over the last year, under the strategic leadership of Xi Jinping and Vladimir Putin, international cooperation between the two countries “has produced fruitful results”.
“China has established itself as the Russian Far East’s largest trading partner. Chinese high-tech products are very popular among Russian consumers, and high-quality Russian agricultural products are reaching Chinese tables, delighting the people of our countries,” he said.
The day before, the Russian president had met with Ding Xuexiang, on the sidelines of the Eastern Economic Forum. During the meeting, the Russian leader stated that relations between Russia and China are developing dynamically in all areas, based on the principles of equality and mutual understanding.
“At this stage, our comprehensive partnership relations and strategic interaction are developing dynamically in all areas based on the principles of equality, mutual support on key issues, mutual understanding and consideration of each other’s interests,” Putin said.
The Russian president also announced that a new record in trade volume between the countries is expected by the end of this year. The head of state recalled that, over the last three years, the volume of bilateral trade has consistently exceeded the US$200 billion mark.
China has maintained its position as Russia’s largest trading partner for 16 consecutive years. After two record years, trade volume fell 6.9% in 2025 amid the threat of US government sanctions, but returned to growth in early 2026, increasing 26.3% in the January-July period.
“Over the past three years, trade volume has consistently exceeded $200 billion, and by 2025 it is expected to reach almost $240 billion, creating a solid foundation for bilateral cooperation. We predict a new record for this year,” added the Russian president.
Source: www.brasildefato.com.br
