Putin named the growth of real wages and the reduction of poverty among the priorities

Raising people’s real wages and reducing poverty are Russia’s priorities, President Vladimir Putin said at a meeting with government members.

“It is necessary to build economic policy measures in such a way that they lead to an increase in real wages and incomes of people, and together with measures of social support, especially for families with children, ensure a further reduction in poverty and inequality,” quotes head of state, the press service of the Kremlin.

The President also promised to continue the implementation of large-scale socio-economic programs and plans aimed at improving the well-being of people, at “revealing the enormous potential” of Russia, as well as at expanding our international ties.

In December 2022 President declaredthat reducing the poverty rate to 10.5% is, though small, a move in the right direction. He stressed that the incomes of the poorest part of the population increased by an average of 27.8% in nominal terms, which allowed for a slight reduction in poverty and inequality.

On November 30, Putin instructed to index the salaries of state employees in January 2023, as well as to allocate the necessary financial assistance to those regions that need it.