The G8 leaders noted that the global economy is showing positive development. Speaking at a press conference following the G8 summit in Heiligendamm, President Vladimir Putin said that Russia is making an ever greater contribution to this process.
Mr Putin noted that the Russian economy has been growing at an average rate of around 7 percent a year over recent years and grew by 7.7 percent over the first four months of 2007. People’s incomes increased by close to 19 percent over the first four months of 2007, the President said. Mr Putin also noted the growing inflow of foreign capital into Russia. Russia now holds the third-biggest gold and currency reserves in the world.
The President said that the G8 leaders discussed some aspects of the global economic situation that are coming in for close scrutiny from experts. These issues included the problem of disproportions between economically developed countries which are running a deficit, and countries with growing reserves, one of which is Russia.