Putin: Poverty in Russia is not declining fast enough

Russian President Vladimir Putin said on Monday at a government meeting on the implementation of national projects that the poverty rate in Russia has fallen to 11%, stressing that this result cannot be stopped.

Speaking to members of the Council for Strategic Development and National Projects, the President of Russia noted that one of the main goals of national projects, in addition to fighting poverty, is to improve the material situation of citizens in Russia.

He said: “At the end of last year, this level (of poverty) dropped to 11%. Yes, there is progress, of course, but it is clear that its pace and speed are not enough.”

The President of Russia called on members of the Council for Strategic Development and National Projects to present specific solutions that can be implemented in the near future to implement national projects.

The Russian President also instructed the government to set up a funding mechanism for fast-growing Russian technology companies, saying: “Many fast-growing Russian technology companies, such as Ozon and Yandex, have funded their projects from Western markets, which we are having difficulty with. today it is necessary to create such mechanisms in the financial system of Russia”.

President Putin also emphasized the need to involve private companies in complex technology development projects in Russia, noting that betting on state-owned companies in market conditions does not always work.

He noted that the Russian state corporation Rostec (established to improve the process of designing, manufacturing and exporting high-tech industrial products) showed moderate results in its industries.

The most striking statements of the President of Russia during the meeting:

One of our main national goals is to improve the financial situation of Russian citizens and increase their income.

The poverty rate in Russia fell to 11% at the end of last year after standing at 12.9% in 2017.

Average life expectancy in Russia has risen to 73 years. We must strive to increase life expectancy to 78 years by 2030.

– According to the results of the second quarter of this year, mortality in Russia decreased to the level of 2019, that is, before the pandemic.

– Putin instructs the government to create a mechanism for financing fast-growing Russian technology companies.

Vladimir Putin: Private companies should be involved in comprehensive technology development projects in Russia.

Source: TASS + RIA Novosti

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