Moscow: Russian President Dmitry Medvedev has said the Russian economy is more solid than the European one, citing major economic figures.

"Our economy looks more solid and more powerful today than the economy of most of the European countries," Medvedev said during the meeting with regional media in the city of Ufa, the capital of republic of Bashkiria.

He also said that Russia's investment climate gradually recovered. Two weeks ago, Russian Central Bank, however, doubled its 2011 private capital outflow forecast to USD 70 billion from USD 36 billion previously.

Analysts then said that an unfriendly investment climate amid the political risks, ahead of forthcoming elections, were the key drivers behind the capital flight.

Speaking about inflation, the president said it was about 7 percent, what is close to nothing, comparing to the similar figures in the crisis-hit Europe.

Russia's GDP in 2011 is estimated at USD 2.4 trillion, what is 4.5 percent higher than last year, Medvedev said.

The national debt is about 12 percent of the country's GDP, while most of the developed European countries' debt stands at 80 to 100 percent.

(Agencies)