Vladimir Putin's annual news conference LIVE

The Russian leader is holding his 14th big news conference

Politics 13:45 20.12.2018

On Russia’s economy

The president said at his annual news conference that national GDP rose by 1.7% in ten month of this year and the forecast for the yearly growth rate is 1.8%.

"GDP increased by 1.7% in ten months of this year. The annual forecast of the Ministry of Economic Development is 1.8%," the President said. Putin noted that the industrial output was growing at a quicker pace at the same time: growth was 2.1% in 2017, 2.9% in January - October 2018, and 3% growth is forecast as at the year-end.

Putin said the growth of the public’s real incomes had reached 0.5% in 10 months of 2018.

Inflation would go beyond the Central Bank’s target to 4.1% by the end of 2018, Putin said.

The investments in fixed assets in Russia for three quarters of 2018 are up by 4.1%, the president said. 

"The industrial production grew at a faster pace. If last year the growth was 2.1%, in January - October of the current [year] - 2.9%, by the end of the year 3% is forecasted. At the same time, the manufacturing industries are growing slightly faster - 3.2%. During the three quarters, the investments in fixed assets amounted to 4.1%. The turnover and retail sales are increasing, plus 2.6%," the president said.

Putin’s annual news conferences

Putin set up a tradition of annual meetings with journalists in 2001. A short break was made only when Putin was Russia’s prime minister, from May 2008 to May 2012. The practice was resumed in 2012 after Putin was elected Russian president for his new, six-year term.

Putin’s question-and-answer sessions traditionally start at noon. As a rule, they last for several hours. That is why they are often referred to as the president's ‘big’ news conferences.

It is up to the president to decide when to end the event. The first news conference in 2001 was the shortest one, having lasted for one hour and 35 minutes. The longest one took place in 2008, when Putin fielded questions for four hours and 40 minutes. Starting from 2004, none of the annual news conferences lasted than three hours.

In the recent years, these news conferences were organized in December giving the president an opportunity to sum up the results of the outgoing year. Reporters are free to ask any questions they like.


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