On Wednesday, Vladimir Putin chastised the high-ranking officials responsible for the country’s finances, after the economy contracted by 1.8% in the first two months of the year, and asked them to propose new measures to stimulate economic growth. Moreover, the Kremlin leader told them that he expects detailed explanations for the reasons why macroeconomic indicators are below expectations.
At the meeting with Putin, advisor Maksim Oreşkin, central bank governor Elvira Nabiullina, and finance minister Anton Siluanov were present. To them, the Russian leader said that it is not enough to explain the contraction solely by calendar factors.
“I hope to hear detailed reports today about the current state of the economy and the reason why macroeconomic indicators are still below expectations,” Putin said, emphasizing that these do not even meet the officials’ forecasts.
Vladimir Putin has also told officials that he is awaiting proposals for “additional measures aimed at revitalizing economic growth”, which would promote business initiatives and redirect skilled labor towards sectors with a higher growth potential.
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