This is stated in the welcome telegram to the participants and guests of the St. Petersburg International Economic Forum (SPIEF).

“I am convinced that for Russia the 2020s will become a period of strengthening economic sovereignty, which provides for the accelerated development of its own infrastructural and technological base, a qualitative increase in the level of training of specialists, as well as the formation of an independent and efficient financial system,” the message says.

Putin expressed hope that the Russian economy will increasingly rely on private initiative and maintain a course of openness and broad international cooperation.

Earlier, Putin said that the welfare of citizens is a key priority for the Russian authorities.

He also expressed confidence that inflation by the end of 2022 would not exceed 15%.