Putin outlines national priorities to restart economy & raise living standards as Russia emerges from Covid crisis — RT Business News

The Russian authorities took unprecedented measures to assist the economy via the coronavirus pandemic, saving 5 million jobs, President Vladimir Putin mentioned on Wednesday in his annual tackle to the Federal Assembly.

According to Putin, the federal government will proceed selling non-public funding to assist the creation of recent jobs. He has instructed the federal government to develop a program of further measures to assist small and medium-sized companies. The proposals on “tax incentives, affordable loans, expansion of product sales, including through purchases from large state-owned companies,” needs to be submitted inside a month.

He added that final yr’s resolution to halve insurance coverage premiums for small and medium-sized enterprises from 30% to 15% isn’t topic to revision. “To support the creation of new jobs, the government will support and encourage entrepreneurial initiative, stimulate private initiative,” Putin mentioned, including that the business sector’s earnings are anticipated to be at a file excessive this yr, regardless of all the issues introduced on by the coronavirus crisis.

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Keeping inflation in Russia inside the established parameters is an “extremely important task,” the president mentioned. “The government and the Central Bank should continue to pursue a responsible financial policy and ensure macroeconomic stability… I proceed from the fact that it will certainly be solved.”

The Russian president added that one other main objective for the federal government is to guarantee the expansion of actual incomes for the inhabitants. He urged to give attention to “Restoring and guaranteeing its further growth, and achieving tangible changes in the fight against poverty.”

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Among different issues, Putin additionally talked concerning the want to take away extreme restrictions within the area of overseas change controls for non-resource exporters.

“It is necessary to significantly simplify the conditions for the work of non-resource exporters. We need to remove all excessive restrictions in the field of currency controls for these exporters. This is one of the problems. This procedure should start working from July.” He added that every one amendments to the laws needs to be adopted as rapidly as attainable in the course of the spring session.

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