Putin tells business elite: Don't beg for Western money, invest in Russia | Business

President Vladimir Putin took a swipe at Russia's business elite on Tuesday, urging those"begging" for money in the West to invest at home instead and telling them that ordinary Russians had no sympathy for their lost yachts and palaces.

"Launch new projects, make money, invest in Russia," he said."This is how you will multiply your capital and earn people's recognition and gratitude for generations to come." "Recent events have convincingly shown that the image of the West as a safe haven, a refuge for capital, is a phantom, a fake," Putin said.

Putin welcomed what he said was a long-overdue structural transformation of the Russian economy as a result of the conflict in Ukraine and said it was dangerous for Russian firms to be dependent on the West.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.Russia's federal statistics service Rosstat on Tuesday estimated the country's 2022 GDP fall at 2.1%, while the central bank put it at 2.5%.

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_Business Wise man, take note RSA government...you might learn something

_Business When they hang him we will celebrate

_Business Didn't he say Russia is doing well despite sanctions, why are his businessmen moaning if they making even 'more' money 🤔

_Business From the Chief Thief😂😂😂

_Business King of the kingz president of the president's hero

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_Business He's just so elite. He's speech got hacked today. Karma

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