After two sucessful terms, beloved president Vladimir Putin has decided to end his carreer as president of Russia in 2008. Under Putin's supervision
fundaments were laid down to get Russia's economy back on track after the fall of the Soviet Union and the failures of previous in the post-Soviet
Oct. 25 (Bloomberg) -- President Vladimir Putin said he'll be able to step down when his term ends in 2008, after taking Russia's economy to new
heights that will secure the country's future. He won't leave political life altogether.
Russia is entering ``an entirely new stage of its development,'' Putin told a nationwide phone-in broadcast live on all main state television
channels today. He said he will be able to leave office knowing that ``everything will be fine.''
The president hailed Russia's economic growth, which he put at around 7 percent annually in recent years, vowing to encourage diversification and to
increase spending in key industries. He said the country was making progress in fighting inflation, which he expects to fall to about 8 percent this
year, and has paid off almost all its foreign debt.
Please visit the link provided for the complete story.
I really admire this man for his extraordinary political skills, vision, and capability of pullgin Russia out of its economic crisis into a healthy
growing nation at a rate of seven percent annually.
In the article he claims that the Russian economy is developing faster than the European economy, but slower than many Asian economies. Right
analysis, but Europe has had Russia's current growth as well, the growth curve does slow down at a certain moment.
However, with the resources Russia has a bright future lies ahead. Though, the declining birth rate is a serious problem, which forced Russian
authorities to subsidize women choosing to get pregnant.
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[edit on 25-10-2006 by Mdv2]
[edit on 25-10-2006 by UM_Gazz]