Putin Forms Specialist Team to 'Brainstorm' Economic Growth

Vladimir Putin
Russian President Vladimir Putin attends a session of the Russia-ASEAN summit in Sochi, May 20, 2016. Putin is due to hold his first meeting in two years with his economics advisory council. Yuri Kochetkov/Pool/Reuters

Russian president Vladimir Putin is putting together a team of consultants for a "brainstorm" meeting on how to kickstart the country's economy, state news agency RIA Novosti reported.

Putin's economic council last met in 2014 and as soon as reports emerged that the group was to meet, media outlets have been speculating what the team would discuss.

According to Kremlin spokesman Dmitry Peskov, the group will analyze ideas about Russia's recovery, aiming to get the economy growing and doing so at a rate above the global average. Among those in attendance will be former Finance Minister Alexey Kudrin, former Minister of Economics and Trade Herman Gref and others.

"All kinds of expert viewpoints will be represented," Peskov said. "We are talking precisely about expert opinions which will be voiced in a consultative way for the benefit of the head of state and the economic bloc of the government." The Kremlin spokesman was likely referring to other government officials who have been confirmed in attendance such as incumbent Minister of Economic Development Alexey Ulyukaev.

Peskov did not comment on why the group was meeting now and said they would discuss growth strategies amid the financial crisis, but said there was no pressure on them to come to any decision and they would discuss other topics besides the crisis.

"I will repeat again that this is a brainstorm meeting for the benefit of sharing expert points of view on topics that have a direct impact on the economic development of our country," Peskov added.

Russian government officials have recently discussed several measures, likely to be implemented in a bid to strengthen the economy such as increasing the retirement age to 63 and cutting state spending further.

According to the International Monetary Fund, Russia will not exit the recession this year and its economy will likely contract by 1.5 percent before 2017.

Uncommon Knowledge

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

About the writer


I am a Staff Writer for Newsweek's international desk. I report on current events in Russia, the former Soviet Union ... Read more

To read how Newsweek uses AI as a newsroom tool, Click here.

Newsweek cover
  • Newsweek magazine delivered to your door
  • Newsweek Voices: Diverse audio opinions
  • Enjoy ad-free browsing on Newsweek.com
  • Comment on articles
  • Newsweek app updates on-the-go
Newsweek cover
  • Newsweek Voices: Diverse audio opinions
  • Enjoy ad-free browsing on Newsweek.com
  • Comment on articles
  • Newsweek app updates on-the-go