It is worth noting that the Russian leader had a talk with the head of administration Anton Vaino, assistant for Economics Andrei Belousov, Finance Minister Anton Siluanov, the head of the Ministry Maxim Oreshkin and Chairman of the Central Bank Elvira Nabiullina, reports “Russian Dialogue” with reference to Finanz.ru.
“Assessment in the first half, Russian GDP grew by 0.7%,” – stated Putin at the meeting.
Compared to last year’s pace, which Rosstat estimated at 2.3%, growth slowed more than tripled.
The industry has added 2.6 percent in the seven months that the manufacturing sector of 2%, led by Putin, the official statistics, which include the manufacture of defence products and continue to diverge with the majority of indirect indicators (drop shipping of industrial goods, indexes of business activity surveys of businessmen).
If you count the industrial statistics available for groups of goods, excluding from the index “closed” position, such as tanks and missiles, the production in Russia is not growing from the end of last year, the experts found out says and the HSE.
Affected by weak demand due to the increase in the tax burden. He slows down inflation, which after 5.6% in the beginning of the year for the summer amounted to only 4.5%.
This is a “positive factor,” Putin told officials in the Kremlin, among which the absent Prime Minister Dmitry Medvedev, went to Bryansk oblast.
However, the President continued, although wages in the economy increase the income of people “grow slowly”.
Real disposable income, which in addition to “eat” the earnings inflation, take into account mandatory payments, according to Rosstat, declining for the sixth consecutive year by 1.3% in January-June and almost 10% since the beginning of 2014.
This situation, according to Putin, “not a cause for concern”, as well as economic growth in General.
“The pace is positive, of course, but the trend in General we cannot satisfy. It is necessary to make economic growth more sustainable and more dynamic,” – said the President.
According to the Central Bank of the Russian Federation, in the first half of the year, all components of GDP went negative except for one thing – spending Russian consumers, which were financed by Bank loans at 1.6 trillion rubles.
Ministry blames what is happening in the Ministry of Finance, which withdraws from the economy’s huge resources, but instead of spending on national projects puts them on Bank deposits. In sum, the Federal and regional budgets have accumulated more than 8 trillion rubles free balances.
Financing plan a “breakthrough” designed to catch up with Germany and to halve poverty behind schedule by almost half, on June 1, was allocated only 27.8% of the projected funds.
This situation will change in the second half: the Ministry of Finance will turn the budget flows to the real sector, which will accelerate growth to 1.6,-1,8% in July-December and will allow to attain the planned 1.3 percent for the year, predicts the MAYOR.
For the HSE calculations, compared to the first half of 2014 – the last pre-crisis period, Russia’s GDP grew by only 2%.
With average growth of 0.4% in Russia, 7.5 times behind the world economy, adding 15%, 6 times – from the us (+12% over 5 years) and almost 20 – fold from the Chinese, the growth of which amounted to 39.4%.
The structure of the economy is also rapidly degraded, increasing a raw roll. Despite the sharp drop in oil prices, mining for 5 years rose by 12.6%, the transport sector, transporting minerals abroad – 10%, the financial sector, serving the flows of the resource rent – 13.6%.
While trade fell by 13%, the utility sector – 15%, small business and households by 9%, while the volume of high-quality services, including research – 3.5%.
As previously reported, “Russian conversation”, the President of Russia Vladimir Putin has expressed all he thinks about illegal actions in Moscow and non-registered candidates.
Recall that Putin made a statement about “cautious optimism” after talks with Zelensky.