Despite financial difficulties, Russia has managed to cope with the economic challenges: real GDP grew 0.6%, Russian President Vladimir Putin said during his 13th annual Q&A session.
"Russia's real GDP grew by 0.6%. This is modest growth, but still growth," he said.
Putin stressed that growth has been observed in the key areas of the Russian economy. "Industrial production has grown 1.7%, while the processing industry saw 2.1% growth. A new record of oil production was reached with 525 million tons produced last year. Last year’s grain harvest was one of the richest and highest - 105.3 million tons. The agricultural sector has performed very well, demonstrating 3.7% growth. And the sector continues to grow in the first quarter of this year. There are positive dynamics in the chemical industry and the production of mineral fertilizers," the President said.
"Record figures were achieved in the housing construction sector, with 82 million square meters of housing built last year. The country managed to avoid a surge in unemployment, which has now reached 5.8%. We have managed to check this growth," the head of state said.
"The prices in the consumer sector grew 11.4% last year, which is no good, as this affects the living standards of the population. The inflation growth rate dropped three times in March. The real disposable household income of the population declined by 1% last year, while salaries grew 1.3%.
The President noted the undoubted success of the banking sector. "Russia's banking sector in 2014 has shown good dynamics. Loans in the real economy have increased. What is great is that, in general, domestic bank assets increased to 77 trillion rubles, the first time it had exceeded GDP. This is a very good indicator of the stability and reliability of the Russian banking system," the head of state said.
In any case, according to the President, "there are positive demographic dynamics in the country. Fertility has increased, mortality reduced, the average life expectancy is increasing," he noted.
