HIGHLIGHTS-Russian President Putin's address to parliament

The following are highlights from Russian President Vladimir Putin's annual address to parliament on Wednesday. The highlights will be continuously updated throughout the speech. ON WELFARE "Thanks to many years of collective effort and the results we have achieved we can now invest... colossal, at least for our country, financial resources in (Russia's) development. No one has handed them to us, we did not borrow them - these funds are created by millions of our citizens... they (the funds) should be used... to increase the wellbeing of Russian families."

"Resolving demographic issues, increasing life expectancy and lowering the death rate are directly linked to overcoming poverty... there are too many poor people... we, of course, should focus our attention on this and on fighting this phenomenon." ON MICROLENDING "I am asking the central bank and law enforcement to bring order to the microlending market in the shortest possible time frame ... social support should reach every single family (in need)." ON ECONOMIC GROWTH "We need a high rate of economic growth. Only that way can we beat poverty, and ensure a stable and noticeable rise in incomes for our citizens... The government and central bank should bring inflation back within the target range."

"(The government and central bank) should ensure favourable macroeconomic conditions for growth... Our reserves fully cover external debt - both in the sovereign and commercial sector... To achieve a high rate of growth, we should solve systemic economic issues." ON BUSINESS AND LAW "To achieve the massive targets before the country, we must get rid of everything that is restricting the freedom and initiative of business... Honest businesses should not be the subject of criminal prosecution." ON INFRASTRUCTURE "We should speed up the modernisation of infrastructure... This has huge significance for strengthening the structure of the state... for the economic growth of the entire Russian state... This year, the railway link across the Crimean bridge will start... This will allow us to significantly develop both Crimea and Sevastopol." (Reporting by Moscow bureau)