Russian economic authorities set principal task of launching new investment cycle, to bring economy back to sustainable growth from 2027 - Putin

ST. PETERSBURG. June 5 (Interfax) - Launching a new investment cycle in Russia is the principal task of the Russian economic authorities, as this is necessary in order to bring the economy back to sustainable growth from 2027, Russian President Vladimir Putin said at a plenary session of the St. Petersburg International Economic Forum (SPIEF 2026).

"Yes, the current economic dynamic is subdued. I will remind you of the task which the government has been set: the national economy must be brought back to sustainable growth rates starting from next year," he said.

"This can only be done under one condition - by increasing capital investments and launching a new investment cycle," Putin said.

"I will highlight that the launch of a new investment cycle is a key task for the economic authorities, and a growth in investments is the most important indicator of the effectiveness of this work," he said.

"It is important that economic growth is balanced and built on domestic demand, and that it is combined with a decrease in inflation in future," the president said.

Putin said Russia's GDP grew 0.2% in January-April 2026, including a 1.3% year-on-year increase in April.

The Russian Economic Development Ministry forecasts Russia's GDP growth at 0.4% in 2026 and 1.4% in 2027.

The ministry expects capital investment to decline by 1.5% in 2026 and to increase by 2.0% in 2027.