For Russia no other sovereignty is possible without its economic sovereignty, Russian President Vladimir Putin said on Monday.

"Of course, I have to note the contribution that business, including the younger generation of entrepreneurs, has made to the development of the Russian economy in the 21st century — the revival of agriculture, the construction complex, entire sectors of industry and modern services, and the strengthening of our sovereignty, including industrial, technological, and financial. And without this sovereignty, no other sovereignty is possible, because everything is based on it, it is the foundation," Putin said at a meeting with representatives of the Russian business community.

Russia's economy has been growing at an accelerated pace in difficult conditions in the last two years, Putin said.

“In the last two years, in ... rather difficult conditions, Russia's economy has been growing, growing at an accelerated pace. You know, 4.1% the year before last and 4.3% last year is a good indicator,” Putin said.

The economic growth covered the widest range of industries, including agriculture, digital technologies, services, finance, the president also said.