Putin instructed to start a new investment cycle

President Vladimir Putin noted the positive developments in the Russian economy and instructed to start a new investment cycle that will ensure Russia’s GDP growth is above the global average.

“Our main task — to make a more thorough, qualitative and sustainable economic growth, including taking into account the factors of external challenges and risks. They are well known to us, they lie not only in healthcare, but, unfortunately, in the economic sphere”, — said Putin.

Rapid economic growth will be a key to raising incomes of Russian families, create new jobs, positive demographic changes, successful social development, which is necessary for Russia, said the President.

Russia’s GDP grew by 2019 at 1.3%, while in the fourth quarter of 2019 figure increased by 2.3%. “The advantage of such a key indicator as the index of industrial production of 2.4% over last year”, — said Putin.

agricultural Production has grown in 2019, 4%, increased turnover in retail trade. Inflation fell to 3%, “now the figure is 2.4% in annual terms,” said the President. Unemployment is low at 4.6%.

According to Putin, the financial reserves guarantee reserve of strength for the economy and financial system of the country. The size of the national welfare Fund (NWF) in excess of $125 billion, the volume of international reserves of Russia — $560 billion. All this reduces the sensitivity of the Russian economy to fluctuations on the world market and ensures macroeconomic stability.

the Main task is to launch a new investment cycle, investment growth should be no lower than 5%, and best of 5-7% per year, Putin said and added that counts on the collaboration of the government and the Bank of Russia.

Even a 1% increase in investment means new jobs, updated jobs, and additional SPROS for qualified and professional staff with a decent salary, he said.

In this regard, all of the alleged social and investment plans must be fully funded. “Here, too, there is nothing new”, — concluded the President.