On the outcomes of the 2019 Saint Petersburg International Economic Forum
Friday, June 28, 2019
The speech of the Russian President V. Putin during the plenary session of the SPIEF-2019 with Chinese President X. Jinping, the UN SG A. Guterres and leaders of other countries attending
The XXIII Saint Petersburg International Economic Forum (SPIEF) was held on June 6-8, 2019 with more than 19 thousand participants and 4,8 thousand journalists from 145 countries taking part. Most participants, 1072, came from China.
The USA traditionally brought the second biggest delegation – 520. A total of 620 agreements worth more than $50 trillion, which was a new record in the history of the Forum, have been signed.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...