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The President said in his address that de-bureaucratisation of the Russian economy and a reduction of foreign debt were important results of the government’s work in 2001.
The national debt was serviced in full volume and foreign debt was reduced by $10 billion over the past year, he said.
Mentioning the country’s GDP growth of more than 5% in 2001, the President expressed the opinion that this growth was due not only to favourable market conditions as regards traditional Russian exports, but also to structural reforms and better management, as well as the growth of national industry.
Speaking about the government’s priorities for the coming year, the President underlined the need to maintain macroeconomic stability, work for Russia’s gradual integration into the world community, including the World Trade Organisation, continue reforms of natural monopolies and develop education and the fundamental sciences, which were, in his opinion, a promising reserve for the country’s development.
Vladimir Putin congratulated members of the cabinet on the upcoming New Year and wished them success in their work.
December 29, 2001, Moscow