Putin said about the need to restore GDP growth to maintain the trend in the decline of inflation


MOSCOW, November 3. The President of Russia Vladimir Putin said about the need to restore positive dynamics of economic development and to maintain the trend in the decline of inflation. Such vectors, the head of state said at the meeting on economic issues.

“The challenge is not just to overcome the negative phenomena in the economy. We say that a certain point of equilibrium and balance is achieved. But the task is much more difficult. It is how to restore positive momentum and steady growth, to ensure a balanced budget system and to maintain the trend in the decline of inflation”, – said the President.

Putin reminded that during the economic crisis, the government took a decision in 2016 to go to the formation of the annual budget, calling the decision reasonable. “The conditions in which we operate, are constantly changing, and very dynamic. And I think it justified the government’s decision to create a budget for one year,” he said.

At the same time, the President urged the meeting participants to look at the longer term. “However, our plans for economic development not intended for year, and two or three years and for the longer term. And all measures aimed at strengthening the industrial base, infrastructure, education, health should relate to budgetary and financial policy”, – said Putin.

In preparing these plans, he said, need to find a balance between development and preservation of the factor of safety of public Finance.

“Today we need to look beyond the horizon of one year, which created a budget, you need to assess the opportunities and prospects… And ultimately, to reach a balance between development and preservation of the factor of safety of public finances in the absolute, of course, meeting all our social obligations”, – said the President.