Support for farmers, the growth of GDP and incomes: Economics of “Straight line” Putin

About overcoming the crisis

  • “Objective data indicate that the recession in the Russian economy have been overcome and we moved on to the period of growth,” — said Vladimir Putin.
  • The President announced the latest data on key macroeconomic indicators. “Three quarters of consecutive GDP growth. “Modest, but from quarter to quarter,” — described the dynamics of the head of state. According to him, four months of 2017, economic growth amounted to 0.7%. The growth of investment in fixed capital and 2.3%. Growth of non — energy exports- by 19%.
  • The head of state noted the growth of foreign exchange reserves of the Central Bank and international reserves. According to Putin, last year they amounted to $368 billion by the end of 2016 — $378 billion, and this year they have $405 billion.
  • As an indirect indicator of economic growth and improvements in living standards Putin noted the growth of sales of cars and increase the number of mortgage loans.


  • Putin, answering the question whether Russia is ready to live under sanctions for decades, noted that “we have lived under sanctions since, as Russia has started to stand up”. “It would not be the Crimea, there would be other problems — would come up with something to deter Russia”, — said the President.
  • The sanctions have impact on Russia, but not dramatically, said the President. According to him, the sanctions are a double — edged sword that harms both those who impose them. The President cited statistics of the United Nations, whereby the countries that have imposed sanctions against Russia, has suffered losses in two times more than Russia. Putin stressed that the sanctions — “this abnormal situation, to no good they’re not.”
  • “The extension of the counter-sanctions will depend on relationships with partners, they will be removed as the lifting of sanctions against Russia”, — Putin said.
  • The head of state noted the positive role of anti-Russian sanctions: “We were forced to include the brains and talents, to concentrate resources on the main directions. We really began to increase production in difficult areas such as electronics, missile oblast, pharmaceuticals, heavy engineering. I’m not talking about agriculture,” — said Putin.

About the competitiveness of agribusiness

  • Vladimir Putin said that “Russia has become the number one leader in the export of grain, export of wheat”. According to him, the own production of meat, including poultry, is now almost completely covers all our need. “Moreover, we are now looking for markets. I with our Chinese friends agree that they have opened the Chinese market for our producers of pork and poultry meat,” — said Putin.
  • Responding to a question the head of the National vegetable of the Union, Sergey Korolev, Putin said two years ago, the production of vegetables and fruits was the most problematic point, because its own output is not enough to cover the demand, and imports as a result of counter-sanctions has decreased. This resulted in more expensive products.
  • Putin promised to “indirect support” to agriculture even after the removal of the sanctions regime. However, he urged farmers to be competitive: “We help you today struggling to ensure that you have typed these revolutions would be competitive. And if the quality and productivity you will be not lower than your competitors, you will always have an advantage in their own market, having in mind that you have the logistics are much cheaper.”

On the digital economy and productivity

  • Answering the question “Straight line”, Putin said: “No digital economy we will not be able to move on to the next technological mode. And without this transition to a new technological structure of the Russian economy and therefore the country has no future.” The head of state noted that the digital economy development of Russia — the number one task in the economic sphere. However, he was sure that Russia has all the chances to succeed in digitization: “we Have all the prerequisites: good mathematical school, develops the programming. We will be able to do it.”
  • Leading “Direct line” asked the President whether it was true that he was “sick” of the digital economy? Vladimir Putin said: “I am healthy”.
  • The head of state said that the main task of the President — growth of incomes of citizens. “For this we need to develop the economy, improve productivity, and you can’t do without switching to a new technological order. And then we need the digital economy”, — said Putin.

About “far hectare” and its prospects

  • Vladimir Putin noted that the program “far Eastern hectare” “good”. Technical failures the head of state explained the high load on the application system. According to Putin, from 92 thousand applications 27 thousand satisfied.
  • Putin did not rule out the extension of the experiment with the “far Eastern hectare” all over the country, but noted that it is first necessary to work out a system in the far East.

About the banking system and the key rate

  • The Russian President said that the logic behavior of the Central Bank “deserves respect”. He expects the key rate will continue to decline.
  • With the main task of Putin considers the preservation of stability of rouble.
  • Putin believes that the banking system needs “more aggressive” in lending to business. “Profits of commercial banks is increasing. And today it reached a serious enough numbers — more than 650 billion roubles. And lending is not so increased. For legal entities, these amounts were increased by only 0.7 percent. A little more true for individuals, but that’s not enough,” he said.

Of inter-regional air transport

  • Commenting on the situation with the domestic flights, Putin has noticed that this theme — “one of the most pressing issues from the point of view of accessibility from the point of view of preserving the unity of our territory.” The President noted that “citizens should have the opportunity to move within the region through the capital city.”
  • Flights between cities of Russia direct Moscow is now developing in the far East and Eastern Siberia. However, they are economically disadvantageous, therefore, according to the President, “there have to subsidize”.
  • Three solutions to the problem of regional air transport, which was designated by Putin: expansion of enterprises that need to organize these intra-regional transportation, the expansion of most airports system and the establishment of a “small, small airplanes”, as well as medium-range airliner.
  • Putin “chided” the government of the Russian Federation for the fact that in the budget there were no funds for the restoration of production of Il-114. “However, we found the opportunity of “Rosneftegaz” has allocated tens of billions, and the program lasts for several years, will this plane be on a modern base in the suburbs”.

About bridges and roads

  • Vladimir Putin said he did not doubt that the plans for the construction of the Kerch bridge will be implemented qualitatively and in time. “We will monitor access roads as from the Crimea and Kerch”, — the President promised.
  • Putin believes that the implementation of the plan for the construction of a bridge to Sakhalin will be useful for Russia: “it would be Possible to organize the movement of goods from Asia via the us to Europe and thus increase the value of the TRANS-Siberian railway. However, in this case, and the TRANS-Siberian railway needs to be expanded,” — said the head of state.
  • Commenting on the deplorable state of roads in Krasnodar, Putin said: “This could be, but this should not be.” According to him, the most problematic regional and municipal roads: “the Federal highway developed and constructed approximately 77% of Federal roads are given in standard condition. Regional roads — growth is much lower. We will have to make some decisions with increased funding the construction of regional roads,” — said Putin, while not removing responsibility from local authorities.