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Presidential Executive Office2023
Events

Meeting on economic issues

Vladimir Putin held a meeting on economic issues to discuss the current state of the Russian economy.

February 17, 2017
11:30
Novo-Ogaryovo, Moscow Region
Meeting on economic issues.
Meeting on economic issues. Presidential Aide Andrei Belousov (right) and Economic Development Minister Maxim Oreshkin.
At a meeting on economic issues. Central Bank Governor Elvira Nabiullina.
At a meeting on economic issues. Finance Minister Anton Siluanov.
At a meeting on economic issues.

Taking part in the meeting were Prime Minister Dmitry Medvedev Medvedev Dmitry Medvedev DmitryDeputy Chairman of the Security Council of the Russian Federation , First Deputy Prime Minister Igor Shuvalov Shuvalov Igor Shuvalov IgorChairman of the State Development Corporation VEB.RF , Presidential Aide Andrei Belousov Belousov Andrei Belousov AndreiFirst Deputy Prime Minister , Industry and Trade Minister Denis Manturov Manturov Denis Manturov DenisDeputy Prime Minister – Industry and Trade Minister , Economic Development Minister Maxim Oreshkin Oreshkin Maxim Oreshkin MaximAide to the President , Finance Minister Anton Siluanov Siluanov Anton Siluanov AntonFinance Minister , Accounts Chamber Chairperson Tatyana Golikova Golikova Tatyana Golikova TatyanaDeputy Prime Minister , and Central Bank Governor Elvira Nabiullina Nabiullina Elvira Nabiullina ElviraGovernor of the Central Bank of the Russian Federation (Bank of Russia) .

* * *

President of Russia Vladimir Putin: Good afternoon, colleagues,

This is already the second meeting in this format since the beginning of the year. I propose that we focus today on the current state of the national economy. The trends are becoming more or less clear, and we have an overall understanding of the ongoing developments. New Year holidays have long passed, so it is time for us to gain better understanding of these trends, evaluate them and plan our work accordingly.

Overall, we are seeing positive economic momentum. Almost all key indicators for 2016 are already available, showing us that last year’s results exceeded our expectations. According to the latest figures, GDP declined by 0.2 percent, which is better than we initially expected, while industrial output increased by 1.1 percent.

See also

Meeting on economic issues
January 18, 2017

Let me add that inflation hit record-low levels last year at just 5.4 percent, which is better than expected. We thought that it would not be less than 6 percent, maybe 6.1 percent, but it came in at 5.4 percent. This year, inflation continues to decelerate. In February, the inflation rate on a year-on-year basis went below the psychological threshold of 5 percent. As of February 13, it stood at 4.72 percent.

Business activity is also recovering, and the so-called business confidence index is on the rise. Of course, we need to maintain this positive momentum by ensuring a predictable economic and financial environment for our businesses.

It is now essential to find balanced solutions with a view to further curtailing inflation, developing domestic manufacturing, industrial production and agriculture, which in turn will lead to increases in real incomes. Let me emphasise that this is one of our key priorities as far as economic and social policies are concerned.

Let’s start a detailed discussion on these issues.

<…>

Topics

  • Economy and finance

Publication status

Published in sections: News, Transcripts

Publication date: February 17, 2017, 11:30

Direct link: en.kremlin.ru/d/53889

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Meeting on economic issues

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Last updated at February 17, 2017, 15:03

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