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All news / Vladimir Putin assessed inflation and economic prospects

  • 07 Oct 2022, 10:35

The consumer demand of Russians is still weak, the figures for September fell below the figures for July and August. Vladimir Putin stated this on October 6 at a meeting on economic issues.

At the same time, industrial production has already returned to the level of last year: the auto industry, metallurgy, agriculture and construction are actively recovering, the president noted. The State Duma told Izvestia that, probably, against the background of such statements by the head of state, it will be possible to count on new measures to support the Russians. At the same time, the Federation Council is betting on stimulating national production, supporting employment and restoring economic growth by the end of 2023.

Vladimir Putin noted that after a four-month decline, industrial production indicators are returning to the level of last year. Separately, the Russian leader announced successes in agriculture. According to the head of state, the industry added 4.6% in the period from January to August. The president was pleased with the successes of the automotive industry and metallurgy, which had previously found themselves in the most difficult situation. The construction sector is also developing with outstripping dynamics. Thus, in August the volume of construction work increased by 7.4% compared to the same period last year, Vladimir Putin stated. The President is sure that such an example will help to pull up the construction-related industries.

However, against the background of industrial success, the consumer demand of the population sags significantly. According to Vladimir Putin, retail sales in Russia fell by 8.8% in real terms in both July and August. Moreover, in September the dynamics decreased even more, he said. Sergey Obukhov, candidate of economics and doctor of political sciences, State Duma deputy, explained to Izvestia that a decrease in demand was noted not only in the summer months, but also over the past year. Therefore, it is most likely that new support measures will appear against the background of the corresponding statements by the president.

- If there is an infusion of funds to support the population, consumer demand will also grow. The President feels this, so we are waiting for measures of support from him: children of war, mobilized and other categories. If these measures are taken, then at least it will immediately go to the consumer market. So far, I don’t see any other way, as stimulation from the state, in the current situation,” said Sergey Obukhov.

According to him, even past one-off payments from the state of 5,000 rubles for pensioners or 10,000 rubles for families with children dispersed consumer demand. At the same time, the market can also be helped by raising the minimum wage and pension to 30 thousand rubles, which, in turn, will pay off with tax collections and an increase in the economic activity of the population, the deputy emphasized.

Deputy Chairman of the Federation Council Committee on Economic Policy Konstantin Dolgov noted in a conversation with Izvestia that a gradual recovery in purchasing power will provide support for employment. “If people do not have an income, they will stop buying, and this will slow down all economic development,” he explained.

In the meantime, the president instructed the government and the Bank of Russia to ensure a sustainable recovery of macroeconomic dynamics. At the same time, Vladimir Putin urged not to forget that, despite the successes in a number of areas, export-oriented sectors of the economy remain under pressure. While suppliers of Russian goods are switching to other markets, the president added. As Izvestia was told in the press service of the KamAZ company, production and sales remain at last year's levels, and the main exports go to the CIS countries and Southeast Asia.

— Sanctions pressure on Russia will only increase. In this regard, we need to have flexible, effective action plans, calculated both for the near and medium term, and consistently implement them,” Vladimir Putin stressed.

In Russia, not only good indicators are recorded in industrial production, the situation with inflation is also improving. According to the results of last week, it dropped to 13.5%, while in the Netherlands this figure is 17.1%, in Latvia - 22.4%, in Lithuania - 22.5%, and in Estonia - 24.2%, the President said. . Moreover, Vladimir Putin has repeatedly noted the country's success in reducing the dynamics of price growth. So, this was also discussed during his speech at the Eastern Economic Forum on September 7. A month ago, according to the head of state, inflation was at the level of "somewhere around 14% with a little" with a forecast to reach the target indicators of up to 4% by the second quarter of 2023.

The President also noted the surplus of the consolidated budget (budgets of different levels. - Izvestia) in Russia for the first nine months of this year, which amounted to 1.4 trillion rubles. At the same time, non-oil and gas revenues in the third quarter both at the federal and regional levels turned out to be higher than expected, the head of state added.

Indeed, there are prerequisites for reaching the target indicators, Senator Konstantin Dolgov believes. Such a positive trend, according to the parliamentarian, was the result of several factors: anti-crisis measures, support for small and medium-sized businesses, preferential credit rates for large enterprises. At the same time, special attention today must be paid to the development of our own production, he stressed.

“Additional steps have to be taken to stimulate national production. We hope that the key rate will also drop to support the real sector. We need to develop our own production. Of course, until the domestic market has recovered, this is an obvious problem. We are talking about the fact that next year should be a milestone, ”said the deputy head of the Federation Council committee on economic policy.

He explained that the authorities expect that by the end of 2023, economic growth will gradually recover.

 

Source: iz.ru