MOSCOW - President Vladimir Putin on Wednesday said Russia's economy was growing at a satisfactory rate, reeling off a string of positive statistics and hailing his government's efforts to keep inflation in check and increase foreign investment.

President Vladimir Putin faces Russians in a live multimedia broadcast on Wednesday. [AFP]

"Success in any country is determined first of all by what happens in the economy," the Russian leader said, speaking during his annual nationally televised, question-and-answer broadcast - his fifth such appearance since coming to office in 2000.

He said economic growth would reach 6.6 percent this year, noting the government had paid off its Soviet-era debts ahead of time. He also said real income had grown about 11 percent this year, but there were continuing problems with slowing productivity and increasing imports.

"In all, I can say we are satisfied with how the country is developing, including the economy," Putin said.

The Russian leader, whose popularity has remained extremely high throughout his presidency, sees the phone-in as an opportunity to show he can respond directly to voters' concerns.