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Speaking at an official ceremony marking Moscow City Day, Mr Putin said that Moscow today is one of the world’s rapidly developing great cities, a capital with an economy growing at a rate of 10 percent, a leader in terms of the profitability of its companies, and home to a rich cultural life.

The President welcomed the growing involvement of young people in resolving the city’s most important problems. Mr Putin said that such ties between the generations help to ensure continuity and at the same time inject new life and pace in the city.

Mr Putin said he hoped the city’s residents would be able to keep up this pace and move confidently towards new victories.