Putin: incomes of Russians growing too slowly
The incomes of Russia’s citizens are growing too slowly, and the economy’s growth rate is unsatisfactory, said Russian President Vladimir Putin at a government session on August 26. The Russian leader expressed concern and demanded that steps be taken to get the country out of this situation.
“The rate is positive, of course, but overall the dynamic cannot satisfy us. We need to ensure that the economic growth is more stable and more dynamic. But even in light of this and taking into account salary increases in the economy, people’s real incomes are growing slowly. Such a state of affairs cannot but cause concern,” the TASS news agency cites Putin as saying.
The session was attended by Anton Vayno, head of the presidential administration, Andrey Belousov, assistant to the head of state, Finance Minister Anton Siluanov, Minister of Economy Maxim Oreshkin and Elvira Nabiullina, head of the Central Bank. The president drew attention to the fact that in the first half of 2019, Russia’s GDP grew by only 0.7%, and in seven months the industrial growth was 2.6%. Putin added that measures to boost the economy’s growth rate must be discussed and taken.
In the Direct Line TV program on June 20, Russian President Vladimir Putin was asked by the presenter why Russians are not feeling the economy’s improvement. Putin agreed that people are struggling to get by, and admitted that Russians’ income levels are falling. In order to resolve this, he said that productivity must be boosted and national projects must be realized. The president also asked not to be resented for the fact that citizens receive small salaries.
At the start of June, Finance Minister and First Deputy Prime Minister Anton Siluanov said that the government’s primary task is not to maintain stability, but to stimulate the growth of the population’s income. He said that his department’s activity is primarily directed towards boosting business activity, which should result in economic growth and growth in Russians’ wealth. The minister observed that several national projects that are scheduled for completion by 2024 will also work towards this goal.