Putin says Russia's economy has "completely recovered"

Moscow, September 21 (EFE). – Russian President Vladimir Putin confirmed today that the Russian economy has “completely” recovered from the impact of the coronavirus epidemic after emerging from recession in the second quarter, with a 10.1% GDP growth.

Putin said at a meeting with the government, called for the adoption of the draft budget for the next three years.

Russia’s GDP rose 4.6% in the first half of the year compared to the previous year, when it ended the year with a 3% contraction.

After the ruling party, United Russia, won the legislative elections and achieved a constitutional majority, the most important task of the new State Duma, or the new House of Representatives made up of four other parties, is now to approve the state budget for 2022-2024, Putin said.

Cabinet accounts include revenues of 25 trillion rubles ($340,883 million) in 2022, 25.5 trillion rubles ($347.701 million) in 2023 and 25.8 trillion rubles ($351.791 million) in 2024.

Expenditures are set at 23.6 trillion rubles ($321.794 million) in 2022, 25.1 trillion rubles ($342.247 million) in 2023 and 26.1 trillion rubles ($355,882 million) in 2024.

Russia is betting on a budget surplus of 1.1% in 2022 and 2023 and a deficit of 0.2% in 2024, according to Finance Minister Anton Siluanov.

The Russian government bases its budget calculations on 3% GDP growth compared to next year.

It also calculates that unemployment will fall from a forecast of 5% for this year to 4.6% in consecutive years.

For his part, the Minister of Economic Development, Maxim Reshetnikov, indicated that the unemployment rate and the number of people affiliated with social security returned in July to its pre-crisis level.

Putin explained that there are 72 million people with jobs, although he stressed that the task he assigned to the government to ensure re-employment to 2019 levels was not fulfilled in all regions and unemployment remains high among young people and people with disabilities.

“In the post-crisis stage, it is necessary to form a model of sustainable economic development, covering Russian industries and regions as widely as possible. Positive and secure economic dynamics are needed to create new well-paid jobs, increase the income of our citizens and the well-being of Russian families. “

According to Prime Minister Mikhail Mishustin, the salaries of nearly 3 million Russians will rise next year after the decision to increase the minimum wage above 13,600 rubles (158.20 euros or $185.40).

The government expects a 2.5% increase in the real income available to Russians in the budget.

All this, with an annual inflation rate of 5.8% expected for 2021 before the central bank’s target, which is 4% between 2022 and 2024, is lowered. EFE

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