Vladimir Putin held a convention on financial points through video convention
September 10, 202013: 30 Novo-Ogoriavo, Moscow Area
2 of 4 at a convention on monetary points (through video convention).
The assembly was attended by Prime Minister Mikhail Mishustin, Head of the Presidential Government Workplace Anton Vaino, First Deputy Prime Minister Andrei Belausov, First Deputy Chief of the Presidential Government Workplace Sergei Kiriyenko, Deputy Prime Minister Tatyana Golikova, and President of the Presidential Government Committee Financial Growth Minister Maxim Reshetnikov, Finance Minister Anton Silunov and Central Financial institution Governor Elvira Nabiulina.
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Russian President Vladimir Putin: Good afternoon, colleagues,
I recommend that we focus on at the moment with related ministries and the Central Financial institution management, assessing the nation’s financial scenario, its key developments, and our subsequent measures to advertise financial progress, improve employment and enhance the incomes of Russian residents. . We maintain such conferences repeatedly.
Like the entire world, Russia confronted materials financial difficulties this yr. Complete sectors, primarily enterprise and providers, the development business and a few industrial amenities had been shut down as a result of coronavirus epidemic.
On this connection, I wish to level out that the Russian recession and GDP contraction are much less substantial than in different main nations. We all know that the nation recorded a GDP discount of 8.5 p.c within the second quarter of 2020, whereas the US and the Eurozone recorded 9.5 and 15 p.c, respectively.
In line with some consultants, that is to some extent associated to the construction of the Russian economic system. Nonetheless, this isn’t the one issue. Definitely, the proposed, well-thought-out and most significantly well timed actions taken on the federal degree to assist our colleagues, staff, enterprises and the whole sector within the Russian federal authorities and the area performed their half.
Many consultants and consultants at the moment agree that probably the most harmful, essential interval is now behind us. In actual fact, financial progress in Russia resumed in June. Shopper exercise is on the rise and key indicators equivalent to energy consumption and freight practice site visitors are progressively returning to final yr’s figures. The top of the Russian Railways not too long ago knowledgeable me about this.
It’s true that the revival of enterprise actions continues unequally. A lot must be executed to regain a sustainable progress trajectory throughout the board in all areas. We had an in-depth dialogue on this at an identical assembly in June. Since then, many financial indicators and forecasts have change into extra constructive and correct.
Nonetheless, I wish to draw the eye of the federal government and our regional colleagues to the next. I need you to regulate the unemployment charge, despite the fact that our companies and firms resume their operations and different constructive financial developments. That is fairly excessive in Russia, 6 p.c of the economically energetic inhabitants. Let me remind you that in March 2012 we reported such a degree. Eighteen months in the past it was 4.7 p.c, however at the moment it’s 6.3 p.c. It could not appear like a lot in proportion factors, but it surely does equate to substantial progress.
We’ve got taken unprecedented steps to assist those that have misplaced their jobs. We’ve got elevated most unemployment profit for subsistence wages. Nevertheless it has additionally elevated registered unemployment. Those that had not beforehand registered for unemployment pay at the moment are making funds improved and so the variety of unemployed has grown accordingly. That is apparent. We supplemented these funds with a baby allowance.
I wish to remind you that these measures are initially non permanent funds for a restricted interval. Nonetheless, as I stated, the labor market scenario is severe. We should proceed to assist those that haven’t but discovered new jobs. Colleagues, I anticipate you to inform me at the moment about your proposals for organizing this help.
On the similar time, as I already talked about, I wish to remind you of the precedence goal set by the federal government to revive employment ranges to 2019 earlier than the top of 2021 by decreasing unemployment to 4.7 p.c of the economically energetic inhabitants.
At this time I need to inform you what your proposals for the draft federal price range are, to be ready quickly, and what’s being executed on this regard, together with amendments to nationwide tasks. We’ve got talked about this. I wish to level out that every part we do on this section of financial restoration should meet our long-term growth objectives. This could present a sound foundation for structural change.
Now let’s discuss all this.