Xinhua News AgencyDecember 12, 2013 05:33
MOSCOW, Dec. 12 (Xinhua) -- Russia's sluggish economic growth is caused mainly by domestic reasons not global crisis, President Vladimir Putin said Thursday in his annual state-of-the-nation address to the parliament.
According to him, the main cause hampering Russian economy is its low labor productivity. "We need to boost domestic demand for high technology, for innovations," Putin noted.
He demanded to find balance between industrial growth and environmental protection, vowed to resume sustainable economic growth.