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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > International > Article Home Business & Finance News U.S. Politics International Technology Entertainment Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Putin to defend handling of Russian crisis Mon Apr 6, 2009 12:50am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Guy Faulconbridge MOSCOW (Reuters) - Prime Minister Vladimir Putin will defend his handling of Russia's worst economic crisis in a decade on Monday and is likely to tell lawmakers there are signs the battered economy could be on the road to recovery. Russia's $1.7 trillion economy is heading into recession after a decade of rapid growth. More than a million people have lost jobs since the start of December with unemployment rates at a five-year high. But officials say there are signs of hope after falling oil prices stabilized. Putin, who as Kremlin chief from 2000 to 2008 presided over the longest boom Russians have seen for decades, is obliged to report to parliament annually under constitutional changes ordered by President Dmitry Medvedev. But he is unlikely to face a grilling in a house controlled by the ruling party he heads and analysts said he would use the speech to underline his status as a leader with influence on a par with the Kremlin chief. "There will of course be no dressing-down for Putin and do not expect lots of criticism of the prime minister," said Olga Kryshtanovskaya, a sociologist and expert on the Kremlin elite. "It is more about PR (public relations) for Putin to show that he is a powerful leader who sees the light at the end of the tunnel. He wants to show the population that he is still a leader, an equal leader." Medvedev has criticized the government several times for its slow response to the crisis, though he has stopped short of direct criticism of the man who groomed him to be president. SOCIAL STABILITY The lower house of parliament has set aside Monday afternoon for Putin to field questions on his anti-crisis plan which supporters say marks a move from fire-fighting immediate problems to policies aimed at a wider recovery. "This will be Putin's consolidated anti-crisis plan," Andrei Vorobyov, head of the executive committee at the ruling United Russia party, told Reuters. "Anti-crisis measures have been achieved that prevented the situation from spiraling out of control, unlike in some other states. Now we need a plan that ensures social obligations are met." Russia's leaders are worried that wage cuts and job losses could undermine the social stability which Putin prided himself on achieving while Kremlin chief. The rebound in oil prices has eased some of those concerns, at least in the short term. Russia's Urals blend of oil was trading at $49 a barrel on Friday, eight dollars higher than the $41 level factored into the revised 2009 budget. But some economists are still warning that the economy could shrink by more than 8 percent this year, nearly four times worse than the government expects. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: FACTBOX: Russia's powerful prime minister, Vladimir Putin also on reuters Blog: Sex, drugs and toxic shrubs: Best reads of March New York bankers best paid, London at bottom: poll Video Video: Who wants the best job in the world? 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