Russia's President Vladimir Putin speaks during his annual state of the nation address at the Kremlin in Moscow December 12, 2013. REUTERS/Sergei Karpukhin
MOSCOW (Reuters) - President Vladimir Putin conceded for the first time on Thursday that Russia's economic problems were home-grown and vowed not to abandon the spending promises he made on returning to the Kremlin last year.
Facing an audience of lawmakers, officials and business leaders, Putin also said "nothing has been done" to implement an initiative he launched a year ago to stem capital flight that has sapped both investment and the Kremlin's coffers.
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