Putin Highlights Russia's Economy Performance in 2002

Home>>World

Last updated at: (Beijing Time) Friday, December 20, 2002

Putin Highlights Russia's Economy Performance in 2002

Russian President Vladimir Putin said on Thursday that the country's economy could grow more than 4 percent in 2002 with an 8.5 percent growth in population's real incomes.

DISCUSSION

CHINESE

SEND TO FRIEND

Russian President Vladimir Putin said on Thursday that the country's economy could grow more than 4 percent in 2002 with an 8.5 percent growth in population's real incomes.

"We had planned growth of 3.5 percent, and we can now assume that growth will be four percent or even a little higher," Putin said during a live phone-in question-and-answer session on the national television.

Real incomes will go up by 8.5 percent, more than the 6.5 percent that had been planned, while wages will be more than 36 percent up and pensions more than 35 percent up, he said.

All of this has resulted in Russia's credit rating being upgraded. "And we have paid that part of the debt that we planned to pay," Putin said.

He noted that inflation in Russia in 2002, though slightly higher than had been targeted, was well down from last year.

The Russian authorities had targeted 14 percent inflation in 2002 and the figure would probably finish at 15 percent. "But that is much less than last year when we had 18.6 percent," he said.

"All in all, Russia has become wealthier, and the overwhelming majority of our citizens are better off materially. I think this is the year's main result," Putin remarked.

He ensured Russians that there would be no default similar to the 1998 crisis in Russia next year or after.

Russia's state debt in 1998 was 130 percent of the GDP, but now this figure "is just 40 percent of the GDP," he explained.

State debt will total 35 percent of the GDP in 2003, Putin said.

He also told Russians that Russia's population is now at least 145 million, nearly two million higher than previously estimated.

"The final results are not available yet, but it is already clear that the figure will not be lower than 145 million," Putin said.

During 2 hours and 34 minutes Putin answered 51 questions from Russians. This is Putin's second televised question-and-answer session since he was elected Russian President in 2000. The first dialogue was held in 2001.

Questions?Comments? Click here

EU Recognizes Russia as Market Economy Country

News Analysis: Behind Slowdown in Russia's Economy

Lifting the 'Mystical Veil' of China's Jails ( 2 Messages)

UN Official: China Becoming a "People Superpower" ( 2 Messages)

China to Control Population Size Within 1.4bn by 2010 ( 3 Messages)

Global Times: Why NATO Doesn't Want to Accept Russia? ( 2 Messages)

US to Begin Deploying Missile Defense System ( 2 Messages)

Chinese Entrepreneurs Ready to Invest in African Farming Sector ( 2 Messages)