Russia has suffered from the global economic downturn but has managed to keep the damage to a minimum, the president told the ruling party on Saturday.

Addressing the United Russia party congress in St. Petersburg on Saturday, Dmitry Medvedev said: "Thanks to cooperation between civic bodies, the party, and government authorities of all levels, we have managed to substantially limit the negative consequences of the global crisis."

"Of course, we would all want to reduce these consequences to zero, to prevent them entirely. But unfortunately, no country in the world managed to do that. But we were nevertheless able to minimize the damage."

At the congress, Prime Minister Vladimir Putin, the leader of United Russia, will deliver a report on the socio-economic situation in the country. A new document on "Russian Conservatism" outlining party ideology is expected to be adopted by party members, who will also elect members of the Supreme Council.