"Generally Good" - Putin Assessed the Current Situation in Russian Economy
OREANDA-NEWS Russian President Vladimir Putin noted the successful joint actions of the government and the Central Bank to preserve the stability of the Russian financial market. This was discussed at a meeting on economic issues, the transcript of which is published on the Kremlin website.
"The stability of the financial market is maintained, including through joint actions of the government and the Central Bank," Putin said. "Our gold and foreign exchange reserves have grown by 5.7% since the beginning of this year and amount to $459 billion," he added.
Putin assessed the current situation in the Russian economy as generally good. "The picture in the Russian economy as a whole is positive in key parameters," he said. The President noted that industrial production shows the leading dynamics: "industrial growth in eight months amounted to 3.1%, including manufacturing increased by 3.8%."
In addition, the head of state mentioned data for the first half of the year on investments in fixed assets of enterprises and organizations - an increase of 3.2%. "The freight turnover of transport is also growing (3% in eight months), as well as retail trade (2.7%)," he added. "All these are important indicators not only of business activity, but also of consumer demand of Russian families," Putin said.
The head of state also stressed that "inflation and unemployment are consistently low." "In August, unemployment fell to 4.6%, now it is at a record low level, the price increase in annual terms in September was 3.4 %," he said. "Over the past month, it has accelerated somewhat, but is within the target," Putin said.
Russian President Vladimir Putin called ensuring higher growth rates and more tangible growth of wages and real incomes of citizens a systemic task in the economy. The meeting was attended by presidential aide Andrei Belousov, first Deputy Prime Minister of Finance Anton Siluanov, Minister of economic development Maxim Oreshkin, Chairman of the Central Bank of the Russian Federation Elvira Nabiullina.