Transcript of the beginning of the meeting:

Vladimir Putin: Mr Sumin, recent events in Russia's and the global economy have severely affected your region. What is your assessment of the current outlook here?

Pyotr Sumin: It is rather difficult at present. But we're getting through it, we're still working. I do not anticipate any crises in paying wages or in companies' operations.

Conditions are difficult, of course. It is primarily so because the metal sector has suffered - and this accounts for 63% of our industry.

Vladimir Putin: What I like about what you are doing here is that investment has been ongoing, and that you are planning to continue it in the immediate future.

Pyotr Sumin: And that is investment in significant projects.

Vladimir Putin: I like your approach; those metalworkers won't have anything to cry about.

Pyotr Sumin: And not just the metalworkers - also those in machine building, the defence industry and construction.

Mr Putin, I would like to mention that the federal programme for the renovation of apartment buildings has been working very well. We completed some good work on this last year, and this year we have been allocated over 3 billion [roubles]. We have also invested our resources in co-financing and creating jobs; what's more, houses and flats are now being renovated for the first time in decades.

Vladimir Putin: How much have you been allocated from the federal budget this year?

Pyotr Sumin: This year we have been given 3 billion [roubles] towards the renovation of apartment buildings, and 2 billion towards demolishing dilapidated housing. We will demolish over 80,000 square metres of dilapidated housing this year. More than 1,200 families will be re-housed.

Vladimir Putin: This year?

Pyotr Sumin: Yes, this year.