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Putin: "Russia Will Overcome Economic Crisis"

by Jordan Yerman | April 6, 2009 at 12:28 pm

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In presenting an economic bailout package to the Duma, Russian Prime Minister Vladimir Putin has stated that Russia will weather the current global economic crisis with a well-applied $90 billion aid package.

Russia has been hit hard by the recession, with over a million people losingtheir jobs since December 2008; economic shrinkage is still predicted for this year as well.

"What we can definitely and must say is that Russia will overcome the crisis," Mr Putin said.

He said Russia would retain its place as one of the world's bigger economies.

"To achieve this, we must all work in a well-coordinated manner, as one team," Mr Putin said.

"Our actions must be not fussy, but prompt, responsible and well-balanced. They should be genuinely effective for both people and the economy."

His comments follow those of Igor Shuvalov, the first deputy prime minister, who last week said Russia could return to positive economic growth by the end of the year.

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Yuliya Talmazan

at 14:55 on April 6th, 2009

In recent days, Russia's PM Putin and President Medvedev released their incomes for last year to advocate for transparency in an effort to reduce corruption, which is still rampant in Russia.

Russian President Dmitry Medvedev earned 4.1 million rubles ($125,000) last year, about 13 percent less than Prime Minister Vladimir Putin, the two leaders disclosed Monday in their income statements for 2008.

Medvedev's statement, posted on the Kremlin Web site, also revealed he has 2.8 million rubles ($85,000) in bank accounts and shares a 368-square-meter (4,000-square-foot) apartment with his wife.

The prime minister's income statement said he made 4.7 million rubles ($141,000) last year and owns an 77-square-meter (830-square-foot) apartment and a 1,500-square-meter (16,000-square-foot) plot of land.