Ukraine War Latest Update: Putin Says Russian Economy Remains Stable Despite Attacks

Russian President Vladimir Putin said Russia’s economic performance remained positive despite attacks on infrastructure that have damaged logistics and storage facilities, according to Russia’s state-run RIA Novosti on Wednesday, Aug. 19.

Putin said the attacks had caused damage but claimed they had not produced critical consequences for Russia.

“There have been no critical consequences from terrorist attacks on Russian infrastructure, there were not and cannot be, but they do cause damage,” Putin said, according to RIA Novosti.

He said logistics and warehouse facilities damaged in attacks would need to be restored, including with state support.

Putin also described Russia’s economic dynamics as “modest, but positive” and called on ministers and deputy prime ministers to work more closely with regional authorities.

Putin calls for measures to support Russian regions

Putin asked the government to identify regions whose financial positions require additional support.

He also instructed the government to ensure the balance and stability of Russia’s overall budget system.

According to RIA Novosti, the repayment deadline for regional budget loans has been moved beyond 2030, a measure Putin said would save Russian regions around 100 billion rubles ($1.18 billion).

Putin also urged government officials to participate more actively in a program called “Personnel for the Economy of the Future,” saying the initiative was meaningful and should not be treated as a formality.

He additionally called on all Russian regions to accelerate the launch of an electronic service allowing residents to evaluate social institutions using mobile devices.