Putin called the development of the economy the basis for solving the tasks facing Russia

The economic development of Russia is the basis for solving the problems facing the country. This statement was made by Russian President Vladimir Putin during a working meeting with State Duma Speaker Vyacheslav Volodin.

“In matters of a social nature, economic development, the economy is the basis for solving all the problems facing our country in general,” – said head of state.

Putin expressed the hope that in a dialogue with the government it would be possible to find “acceptable solutions” that would be “for the benefit of Russia’s development.”

In early July, during a meeting with Russian Prime Minister Mikhail Mishustin Putin declaredthat Russia’s economic performance was better than expected. He noted that this gives hope for the solution of all the tasks set within a year. During the meeting, Mishustin drew attention to GDP growth, which in May amounted to 5.4% compared to May 2022, since the beginning of the year – 0.6%. According to the prime minister, by the end of 2023, GDP could grow by more than 2%.

Inflation at the beginning of July was 3.4%, by the end of the year it could reach 5%, he added. The Prime Minister noted that the growth of real wages in April amounted to 10.4% in annual terms, for four months from the beginning of 2023 – 4.2%. The unemployment rate is at a historic low of 3.1-3.2%, Mishustin said.