Mishustin: Russia has enough resources to resume development

According to Russian Prime Minister Mikhail Mishustin, Russia has enough resources to resume “progressive development” after a period of adaptation to new conditions. He stressed that for this all budgetary funds should be spent “as efficiently as possible.” The prime minister spoke about this during a meeting on the draft federal budget for 2023.

“To stimulate business activity, on the one hand, and to help people, especially the most vulnerable segments of the population, on the other. I emphasize once again: all the planned social obligations must and will be fulfilled,” Mr. Mishustin explained during the meeting (the transcript is available on site governments).

To cope with these tasks, the Prime Minister believes, Russia will be helped by “the experience accumulated over many years” and “the foundation formed.”

“I am sure that the experience accumulated over many years and the foundation formed will allow us to cope with these tasks. We have enough resources to resume progressive development after a certain period of adaptation,” he said.

Mr. Mishustin also spoke about the principles of budgeting for 2023: it will be aimed at implementing national projects, creating conditions for restructuring the economy and “preserving macroeconomic stability.” Next week, the Prime Minister plans to report on the preparation of the budget to Vladimir Putin.

“The dynamics of gross domestic product and investment is better than expected. The unemployment rate is at its lowest. Inflation is slowly declining. But most importantly, there is a revival of domestic, primarily consumer, demand,” Mikhail Mishustin shared his assessment of the current situation in the country.

Earlier optimistic assessment of Russia’s development prospects after the “adaptive” period shared Press Secretary of the Russian President Dmitry Peskov. In his opinion, despite the sanctions and the loss of the European energy market for Russia, the Russian Federation will be able to compensate for the consequences of sanctions through alternative markets.

Andrey Sapozhnikov