Putin on Russia’s GDP growth, slowing inflation, employment and returning assets

Russian President Vladimir Putin praised the strong performance of his country’s economy on Thursday. During a recent address to Russia’s Union of Industrialists and Entrepreneurs in Moscow, Putin noted that the GDP showed “good growth“ in the early months of this year, with a 4.6% increase in January and a 7.7% boost in February. A slowing down of inflation in the country was also highlighted in Putin’s address. The President pointed to the strength of the labor market, where unemployment has remained at a historic low of less than 3%, with significant declines among young people. He also mentioned significant real-term increases in wages and incomes, noting an 8.5% rise in the average monthly salary in January and a 5.4% increase in real incomes in 2023. In his speech, Putin recalled that law enforcement agencies have recently initiated proceedings to return some assets to state ownership. Looking ahead, Putin stressed the need to significantly increase industrial production over the next six years, including the establishment of new, high-tech enterprises across critically important sectors. He reiterated that Russia’s strategic task was to boost the production of goods and services, primarily relying on its own technological base. __________________ ShanghaiEye focuses on producing top-quality contents. Nobody knows SHANGHAI better than us. Please subscribe to us ☻☻☻ __________________ For more stories, please click ■ What’s up today in Shanghai, the most updated news of the city ■ Amazing Shanghai, exploring the unknown corners of the city, learning the people, food and stories behind them ■ What Chinese people’s lives are like during the post COVID-19 period ■ Views of foreign scholars on China and its affairs ■ Foreign faces in Shanghai, people living in this city sharing their true feelings ■ Mini-docs showing why China is the country it is today __________________ ☎Leave us messages if you have any suggestions or questions! Thank you!