Putin's forecast: Russia's GDP will grow over 7% this year

In his Tuesday speech at the Mongolia parliament, Vladimir Putin said that he expects Russia's GDP to grow over 7% this year. The Russian President stressed that the Government is using the favorable situation on the world energy markets for implementing social programs among others. Putin said a strategy of advancing Siberia and the Far East is currently being worked out given Russia's foreign policy interests, Itar-Tass reports. "New Russia is open for a political dialogue and economic cooperation with Mongolia," Putin said.