Putin voices confidence to go through economic hardship

External restrictions on Russia will prompt the country to carry out structural changes in the economy and push the country to make the structure more energetic, Russian President Vladimir Putin said Wednesday.

"This would push us to strengthen our economic sovereignty, but, naturally, while we will remain, as we have repeatedly stressed, an integral, natural, and organic part of the global economy," he said at a meeting with government members.

"Maybe they will just push us toward making this structure more energetic," Putin was quoted by TASS news agency as saying.

Recalling the crippling global financial crisis years ago, Putin said Russians have solved the problem exclusively by their own means, first of all relying on their development institutions and available reserves, noting that nowadays little changed in this respect.

Putin also called on the government to follow the rules of free- market economy and to meet all social obligations it assumed.

"Whatever we do and whatever plans we have, we certainly must meet our social obligations and ensure their fulfillment," he said.

Meanwhile, Russian Economy Minister Alexei Ulyukayev said at the meeting that there were signs of stabilization in the Russian economy.

"There are some visible signs of stabilization which are perhaps related to the economy's ability to adapt, and to the measures that are currently implemented by the Bank of Russia and the Russian government," the minister said.

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