President of Russia Vladimir Putin: Mr Oreshkin, are the economic figures you have for eight or for nine months?
Economic Development Minister Maxim Oreshkin: For nine months.
Vladimir Putin: What is the good news?
Maxim Oreshkin: The third quarter has just ended, we are summing up statistical results, and this data is good. The GDP grew by 2.4 percent in September and by 2.2 percent overall in the third quarter. The current recovery continues gradually.
We have positive data on agriculture. The weather was not very good from the start of 2017, and negative statistics were posted for a long time. However, the sector grew by 8.3 percent in September, due to a good harvest. This is already 3.8 percent since the start of the year.
Overall, the upcoming quarterly forecasts are also positive. There are factors linked with the gradual restoration of salaries, and the restoration of lending activity and investment activity.
These factors will continue, and, of course, this will support economic activity. But, of course, the most important thing is to think about long-term and sustained economic growth.
Vladimir Putin: How does investment look in this context?
Maxim Oreshkin: So far, we have compiled investment statistics for the second quarter, the figures for the third quarter are not ready yet. But the second quarter …
Vladimir Putin: What are the figures?
Maxim Oreshkin: Investment grew by 6 percent in the second quarter. We are expecting overall investment activity to subside somewhat throughout 2017. We considered 6 percent to be a good figure, and we are expecting it to subside a little to total about 4 percent this year overall.
Vladimir Putin: Just as we planned: 4 percent this year.
Maxim Oreshkin: Yes, when we compiled the forecast, the latest update was made in August, and we are planning to achieve exactly these targets.
To be continued.