Vladimir Putin chaired a meeting on economic issues, presidential web page reports. As he noted, “Last year, Russia’s GDP growth was 1.3%, while in the fourth quarter, it accelerated to 2.3%. The industrial production index was 2.4%; agricultural production added 4%, and retail is on the rise. Inflation decreased to 3% in 2019, and now the annual inflation rate is 2.4%. Unemployment averaged 4.6% last year.”
“The accumulated reserves guarantee a proper safety margin for the Russian economy, its financial system. The National Welfare Fund exceeds $125 bln, with international reserves standing at $560 bln,” he said, pointing out that “the main task is to achieve more stable, high-quality and sustainable economic growth, also taking into account external challenges and risks.”