At the plenary session of the Eastern Economic Forum, Russian President Vladimir Putin discussed many issues, ranging from prospects for resolving the conflict in Ukraine to a debate on whether the Central Bank's monetary policy is too tight. The head of state also touched on inflation, new benefits, rumors of mobilization, and the fuel crisis.
Despite the economic focus of the EEF, geopolitics again took center stage. Answering a question from moderator, journalist Kirill Tokarev, about prospects for a settlement in Ukraine, Putin said: "Are there chances? In my opinion, yes, they exist." The president stressed that Moscow and Kyiv should primarily negotiate, but other countries can assist. The situation remains difficult: Putin called the Kyiv regime's threats against civil aviation and attacks on civilian ships a manifestation of "state terrorism," noting that Ukraine's Western partners are hushing up these statements and thereby becoming accomplices.
Kyiv strikes purely civilian targets, so Moscow was forced to respond in kind. "And apparently, our response overall turned out to be quite significant for those who opened this Pandora's box," the head of state noted. Russia is simultaneously strengthening its air defense system, particularly to protect oil refineries. Putin assured that there are no plans to nationalize critical infrastructure, and the recent decree on external management at such facilities is aimed at stimulating investments in self-defense. "And I assure you, the result is already there and will be," he stressed. Refinery repairs continue, with ten percent of enterprises left to restore.
The president also denied the possibility of mobilization, calling such rumors a psychological operation by the enemy. According to him, the Russian troops have enough volunteers, and the army is increasing the pace of its offensive. "But the enemy's monthly losses are increasing. Casualties each month are minus 8-12 thousand people," the supreme commander-in-chief clarified.
Moscow maintains contacts with Kyiv, including through special services, and continues dialogue with Washington. Russia favors restoring relations with the United States "in full format." Putin also noted the role of other states, primarily China, which consistently advocates a settlement. "We must be ready for anything. And only our readiness for everything will give everyone who wants to harm us the understanding that it is better not to do so," he concluded.
The main topic of the plenary session, however, was the economy. When the moderator asked about the need to economize, the president replied: "We need not so much to economize as to spend rationally, set priorities." He noted that the federal budget deficit is "not critical," and the state debt is among the lowest in the world. The authorities are trying not to overload the financial system with borrowings so that businesses have more opportunities to attract money. Putin stressed that the government and the Central Bank manage to "pass between Scylla and Charybdis," maintaining a healthy macroeconomy and creating conditions for private investment.
The president recalled that Russian entrepreneurs make a serious contribution to state finances, clarifying: "We have no fees; these are voluntary contributions." The funds allocated by businesses are directed by the government primarily to social needs, including education and healthcare.
Discussing growth rates, Putin noted that they were relatively small but exceeded the European average. The main condition for long-term planning is stability, so a "golden mean" is needed, not a reliance on massive monetary injections at any cost. Sources of capital can be different - from Russian banks to foreign investors.
The president characterized the state's relations with domestic business as "stable, good," acknowledging that the discussion on credit policy continues: many believe that the government and the Central Bank "overdo regulation a bit." Overall, the financial sector remains resilient, and the profits of the largest banks are growing.
The moderator raised the topic of record household deposits and a possible freeze on savings. Putin called this "rather stupid" rumors, recalling that even in 2022, banks calmly paid out everything due to depositors. "Rates are high - people bring money to banks," he added.
The president also urged the government to think about the fees and charges faced by small businesses, noting that "too often we have changes not only in the tax base but also in the fiscal burden."
The Far East remains one of the economy's growth points. Over 11 years, the region's GRP has more than tripled, about 25 trillion rubles in investments have been attracted, and unemployment has fallen fourfold to 2.2%, the head of state cited figures. From 2027, a unified preferential regime for business will be introduced in the Far East and the Arctic. Plans include increasing the processing of oil, gas, and rare earth metals directly in the region, creating value chains and jobs.
A key point is technology. A special legal regime should accelerate the testing of advanced solutions and make the Far East a platform for deploying civilian drones. Data centers, quantum communications, and energy, including small nuclear power plants, will also be developed.
There are big plans for transport infrastructure: Russia intends to make navigation along the Trans-Arctic transport corridor year-round, linking Arctic terminals with railways and inland waterways. This will connect cargo flows from Central Russia, the Urals, and Siberia to northern routes. Currently, large resource projects are moving to the practical stage: at Vostok Oil, the launch of an oil pipeline to the Sever Bay terminal and the first oil shipment along polar routes are expected soon.
Despite reduced investment due to inflation containment measures, one of the main tasks is not to "overcool" the economy. However, any investment project depends on people.
Answering a question about declining birth rates as a threat to national security, Putin agreed, stressing that the demographic problem consists of a set of issues. "We need to change people's consciousness; this is a whole science," he noted. Linking the decline in birth rates only to recent events is wrong: "The special military operation certainly has some influence, but that's not the point." As an example, the president cited Japan and South Korea, where birth rates are lower than in Russia, despite the absence of external conflicts.
Russia is "not in the worst position" among countries in the region and already has experience in improving the demographic situation. "And we will definitely repeat it," the head of state assured. An effective tool is creating incentives for families and young women. In particular, the president proposed extending until 2030 the increased payment at the birth of a third child in the Far East. Together with the federal 450 thousand rubles, this amounts to a whole million, which can be used to pay off a mortgage.
Demographics also depend on the cost of living. When the moderator spoke about expensive apples in the Far East, Putin remarked: "Compare how much a kilogram of apples costs here and in Rostov - probably cheaper in Rostov." And he immediately suggested looking at the bigger picture: "You mentioned apples, but ask about fish and seafood - here they are in greater quantity and cheaper than the Russian average." The state's task is to strive for a gradual equalization of the standard and cost of living across the country.
Foreign guests of the plenary session also spoke about improving the quality of life. Indonesian President Prabowo Subianto called for "writing a new chapter" in interstate relations, focusing on economic partnership. "When others build walls, we build bridges," he said, inviting Russian business to cooperate. He added: "The Pacific Ocean does not separate us but connects us."
Mongolian Prime Minister Nyam-Osoryn Uchral stressed: "Neighbors share common thoughts." He also recalled Ulaanbaatar's multi-vector policy. The main goal of cooperation, he said, is the individual and improving the quality of life.
Myanmar's First Vice President U Nyo So called the EEF an important platform for interaction, investment, and innovation in the Asia-Pacific region and noted broad opportunities for strengthening ties between the Russian Far East and Asian countries.
Chinese Vice Premier Ding Xuexiang confirmed that Beijing is ready to support economic partnership with Russia in the Far East. He also articulated one of the most important messages of the plenary session: no matter how the political situation changes, China's doors will open only wider.