Russian PM defends $90 bln stimulus plan

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Source: CCTV.com | 04-07-2009 09:18

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Prime Minister Vladimir Putin has defended his handling of Russia's economic crisis. On Monday, he told lawmakers that a 90 billion dollar stimulus program would ensure that the country survives hard times.

Russian Prime Minister Vladimir Putin addresses the State  Duma, the lower house of Russia's parliament, in Moscow.  Russia faces a difficult year as the global economic crisis  bites but has managed to avoid the worst-case scenario,  Putin said Monday.(AFP/Ria Novosti/Alexey Druzhinin)

Putin said he foresees a difficult year ahead. But he is confident his country will cope with the economic crisis.

Russian Prime Minister Vladimir Putin said, "It would be irresponsible to try and lull ourselves with words of bravado and reckless optimism. But what should -- and must -- be said with all certainty is that Russia will overcome the crisis."

Putin's budget allows a deficit of 7.4 percent of the country's GDP, the first fiscal deficit in eight years. The Russian State Duma approved the adjusted budget in the first reading.