Measures to Reduce Inflation in Russia Show Results - Putin
MOSCOW (Sputnik) - Measures to reduce inflation in Russia are showing results, Russian President Vladimir Putin said on Monday.
"Efforts to reduce inflation are producing results," Putin said during a meeting on economic issues.
The trajectory of inflation reduction is now below the government and Central Bank forecasts, the president also said, adding that over the first seven moths of the year, Russia's GDP growth amounted to 1.1% and asking whether the figure is sufficient.
Putin also reminded the members of the cabinet of the task of preventing Russian economy from overcooling.
"We talked about the need to take measures to combat inflation, to strengthen macroeconomic stability... And the general opinion was also that it was necessary to walk such a sharp edge and not undermine macroeconomic policy, and not overcool the economy, not freeze it," Putin said.
It is important that moderate price conditions have a positive impact on business and investment activity in Russia, the president added.
"Of course, special attention should be paid to improving the quality of the domestic economy, combating the shadow sector and tax evasion," Putin said.
Russia should strive to advance ahead of the dynamics of the global economy, Putin saidю
"We must not just keep pace with the global economy, but strive to advance ahead of its dynamics by unlocking our own potential of industries, regions and territories, developing ties with foreign partners, through the widespread introduction of advanced technologies, and the development of new promising areas of the modern economy," Putin said at a meeting on economic issues.
The Russian budget for the next three years is designed to solve both the current and future development tasks of the country, Putin said.
"It is obvious that the stability of public finances and the implementation of planned projects and programs directly depend on the state of affairs in the Russian economy," Putin said.
It is necessary to link the budget-tax and monetary policy measures and adjust them to stimulate economic growth, Putin added.
