Putin Says Russia's Non-Participation In WEF In Davos Will Not Affect Country's Economy

Russia's possible decision to refrain from participating in the World Economic Forum (WEF) in Davos will not affect the country's positions in the global economy, Russian President Vladimir Putin said on Thursday.

SINGAPORE (UrduPoint News / Sputnik - 15th November, 2018) Russia's possible decision to refrain from participating in the World Economic Forum (WEF) in Davos will not affect the country's positions in the global economy, Russian President Vladimir Putin said on Thursday.

On Tuesday, Russian Prime Minister Dmitry Medvedev said that Moscow would not take part in the WEF unless the event's organizers lifted their restrictions against Russian businessmen. According to media reports, several Russian entrepreneurs and businessmen have been denied participation in the forum, including Oleg Deripaska and Viktor Vekselberg.

"It definitely will not affect Russia's authority in world's economy. A country's authority in the world's economy depends, first of all, on its economic power, the economy's structure, results that it shows in terms of technological effectiveness, the GDP growth, macroeconomic indicators such as low inflation, small external debt, the absence of budget deficit or its minimum rate or, what is better, budget surplus, which [Russia] enjoys now," Putin indicated.

The Russian president added that the Russian authorities, in general, achieved set goals in economy.