"Despite all the challenges, Russia is moving forward and developing," Putin said during a meeting with members of the government.
Key macroeconomic indicators in Russia are stable, the president said, adding that inflation in the country is declining.
"Unemployment is at a historically low level," Putin said.
Russia's economy needs to be brought to a qualitatively new level, the president said.
Russia fully ensures its defense and security spending, "The state of public finances allows us to fully cover defense and security expenditures," Putin said at a meeting with members of the Russian government.