Russian economic slowdown has mainly domestic causes - Putin


Russia's economic slowdown is mainly being driven by domestic causes, President Vladimir Putin said on Thursday, singling out low labor productivity as a problem.

"We have to be clear: The main reasons for the economic slowdown are not external but internal," Putin said in an annual address to lawmakers and officials in the Kremlin.

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Putin had previously blamed weak global conditions for Russia's economic slowdown. His government has since cut its long-term growth forecast to 2.5 percent through 2030, meaning Russia will lag behind the world economy and other leading emerging economies.

(Reporting by Douglas Busvine, Eidting by Timothy Heritage)