Putin Notes Improved Economic Figures in North-West Federal District

Russian President Vladimir Putin has noted a recent improvement of "a number of important economic figures" in the North-Western federal district.

When speaking at a Friday session in St. Petersburg, devoted to the district's social and economic development, the Russian leader pointed to "the growth of industrial production by 16.4 per cent and increased tax revenues".

"Salary debts have been reduced by over 50 per cent", according to the President. At present, this debt is the lowest among the federal districts, he pointed out. The situation with pensions also remains stable, he added.

"It is to a large degree a result of your work," Putin said addressing the session's participants.

The district has every opportunity "to secure and develop these positive trends," the Russian head of state believes.

The North-West has a number of perspective spheres for long-term and large-scale investments, he pointed out. Among them the President named the fuel and energy sphere, transport corridors, the timber and fishing industries.