Russia: Govt. ‘obliged to undertake additional efforts to raise public's disposable income' — Putin on economy

Russian President Vladimir Putin discussed economic issues and changes to the Russian economy since the 2000s as part of the interview series «20 questions with Vladimir Putin» released by TASS news agency in Moscow on Wednesday. The Russian leader emphasised the great changes that took place in the development of the Russian economy since 2000. Putin cited the rate of inflation which according... Еще to the data provided by the Russian leader dropped from 2,600 percent in 1992 to 20.5 percent in 2000 and 3.5 percent today; including food prices. The president of Russia however drew attention to the fact that 13.5 million people still live below the poverty line. «13.5 million. This is not a third, nor is it 42 million. Nevertheless, it is still a lot. And we must combat this,» said Putin. «It's another thing that along with targeting inflation, the public’s disposable incomes need to be raised. It’s obvious. It’s quite obvious. And in the context of our economic structure that’s not that simple. But the government is certainly obliged to undertake additional efforts. This is precisely what we are discussing today,» he stated. On the issues of poverty levels in Russia, Putin alluded to external factors such as oil prices, which he said was the main hurdle on the way to higher living standards. Nonetheless the president emphasised that Russia now depends less on oil and gas exports saying: «we are really moving away from it [oil dependency], because the share of non-oil and non-gas revenues is growing.» While answering a question about the objectives stated in the «Concept of long-term socio-economic development of the Russian Federation until 2020» endorsed by the government in 2008, which still remain to be achieved, Putin said: «The 2008 global financial meltdown struck (not by any fault of ours, it came from beyond our borders). Thus, a far more urgent task popped up that we had to tackle. I want to remind everybody that here it was essential to prevent the economy from collapsing and the public’s savings from being wiped out.» Restrictions: Mandatory courtesy to TASS Restrictions: Mandatory courtesy to TASS


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