Transcript of the beginning of the meeting:

Vladimir Putin: Mr Khamitov, even a cursory glance at your statistics shows that your republic has seen positive growth. Industrial production across Russia grew 4.7%, while the figure for Bashkortostan is over 9%. This is certainly a good indicator. You have also reported positive achievements in agriculture, in housing construction and in some crucial segments of the social sector. How do you assess the start of the year and what can you tell me about your plans?

Rustem Khamitov: Mr Putin, our performance in 2011 was quite good and we plan to continue the consistent and dynamic progress in 2012 – the necessary conditions for it exist. Our businesses are mostly doing well and we have substantial financial reserves. The figures for January show that our performance was 20% better than in January 2011. This is evidence of a good start. Furthermore, we feel confident about the spring sowing season. We have the resources to carry it out on schedule and with high quality. Unfortunately, the snow cover was not very thick this winter, and so we are a little worried about the winter crops we have planted, but I think that, on the whole, we can resolve these issues.

Vladimir Putin: Only 20% of the norm?

Rustem Khamitov: Yes, 20%-25%, which means that we will need additional nutrients, which we will add. Also, we have transferred funds to our farms for purchasing farm equipment, vehicles and harvesters. We increased the price of milk delivered to dairy plants by 1.80 roubles per litre. Hence we feel quite comfortable and confident in this area. And I can assure you that people feel good about it as well. Last week we celebrated the Muslim holidays, which went very well. People have never felt so calm and confident before. And the day before yesterday we celebrated the last day of the Pancake Week, which was a good celebration too. You can see that people are in a good mood.

Vladimir Putin: I wish you every success, but you definitely have some questions and issues, don’t you?