Russian President Vladimir Putin Holds His Annual Press Conference -- News Roundup

TASS: Vladimir Putin's annual news conference

Russia's head of state is holding his annual news conference in Moscow

On Russia's economy and upcoming elections

Vladimir Putin believes that Russia must be a 21st century country with a hi-tech powered economy.

"Our GDP grew by 75% since 2000, while industrial production surged 70%, the processing industry grew at an accelerated pace," the president pointed out. Putin added that taxes have tripled since 2000, and the country's reserves have increased 30-fold.

“Russia must keep its eyes fixed on the future. It must be up-to-date. Its political system must be flexible and its economy must be built on high technology," he told the annual news conference. "Labor productivity must grow many times."

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