Putin announced the lowest levels of inflation and unemployment in Russia

Unemployment and inflation rates in Russia reached their minimum values. This was stated by Russian President Vladimir Putin during his speech at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

“We have maintained a responsible balanced budgetary and monetary policy. Their effective combination made it possible to reach the minimum values ​​of unemployment, as well as inflation, which is now lower in Russia than in many Western countries – both in the eurozone and in other regions – and is close to the historical minimum of 2.9%. Unemployment – 3.3%. It has never been so low in our history,” he said.

At the end of May, Vedomosti, citing Rosstat data wrotethat the unemployment rate has updated a record. According to the results of April this year, the figure was 3.3%. The previous minimum was recorded two months ago – in February (3.5%).

Earlier, Putin noted that the record low unemployment rate “does not mean that all problems in the labor market have already been resolved.” June 16 fields SPIEF Minister of Labor and Social Protection Anton Kotyakov informedthat in some regions unemployment exceeds 10%.

Putin earlier predictedthat inflation in Russia by the end of 2023 will be about 5%, which, according to him, is a normal level for the country’s economy. The Central Bank expects that in the II quarter inflation will be at the level of 3.6%, and by the end of the year it may reach 4.5-6.5%. In 2024, inflation will reach a plateau.