Vladimir Putin: Russian economy needs structural reforms

 Vladimir Putin: Russian economy needs structural reforms

It is necessary to carry out structural reforms in Russia, which would raise the efficiency of the economy, while maintaining macroeconomic stability, Russian President Vladimir Putin said at the first in two years meeting of the Presidium of the Economic Council.

"We need to simultaneously increase the pace of growth of the domestic economy and carry out structural reforms to enhance its efficiency. It is crucial to preserve macroeconomic stability, to avoid widening of the budget deficit and acceleration of inflation," RIA Novosti cited him as saying.

The head of state warned that it is necessary to take active measures to resume economic growth in Russia. "If we do not find new sources of growth, the dynamics of GDP will be around zero," Putin explained.

In these circumstances, the key task of the Economic Council is to identify key targets of Russia's economic policy until 2025. "This task is relevant today, the majority of experts agree that the Russian economy has stabilized as a whole and adapted to current conditions, and now it is important to address the strategic issues," the President said.

The head of state added that there should be no monopoly on the truth during debates on economic issues. "I ask everyone during our meetings to get away from ideological preferences as much as possible, not be locked in the framework of various theoretical concepts and constructs, but to be guided by pragmatic approaches and focus on the development of realistic and objective decisions. I want to emphasize in this regard: any ideas and initiatives should be voiced together with practical arrangements for their implementation, which we will consider," he said.

"I propose to hold a series of discussions on the site of the Presidium of the Economic Council, including on such topics as the new image of the social, health, education, housing and communal services spheres, as well as the technological renovation of the national economy and improving the business climate, as well as improvement of the public administration system," Putin listed.

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