“We have maintained a responsible and balanced budgetary and monetary policy. Their effective combination has made it possible to achieve minimum levels of unemployment, as well as inflation, which is now lower in Russia than in many Western countries and the eurozone, and in other regions, and it is close to the historical minimum, which stands at 2.9 percent. Unemployment, 3.3 percent, has never been so low in our history,” Putin said, speaking at the plenary session of the St. Petersburg International Economic Forum. .
The president noted that a stable macroeconomic situation has become a competitive advantage for Russia, an effective factor in its development.
“Practice has shown that it was not in vain that we achieved this macroeconomic stability, using budgetary mechanisms, monetary instruments, we supported demand in the economy, that is, we gave employment to companies and companies, and at the same time we did not allow prices to We will continue building our macroeconomic policy, taking into account the real situation and focusing on the inflation target,” the Russian leader stressed.
He added that the small federal budget deficit is largely due to the postponement of planned spending to earlier dates – “left on schedule.”
“We consciously took this step in order to increase the pace of implementation of state and regional programs. Naturally, additional funds were needed to strengthen defense and security, to purchase weapons,” Vladimir Putin explained.