Number of Russians living in poverty reduce in recent 10 years: Putin

11:31, September 18, 2010      

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The number of people in Russia living below the poverty line dwindled more than two-fold during the recent ten years, by 57 percent, Prime Minister Vladimir Putin told the International Investment Forum in Sochi, RIA Novosti news agency reported on Friday.

Speaking in the black sea resort, Putin stressed that social security system in Russia have been improved dramatically and called it the most important achievement of the decade.

"People's real income rose more than twice. Pensions rose more than three times," the prime minister said, noting that this was possible thanks to economic growth.

"Economy has risen significantly, its quality has been changing gradually, its capitalization has been increasing compared to the world economy. Tax system visibly changed. It's an obvious fact," Putin said.

He also noted that the Russians became happier as a whole for the last 10 years. This way, Putin recalled the remark he had made after he moved to the Kremlin in 2000.

Coming down to more practical issues, Putin said his government considers the possibility for foreign banks to acquire the stakes in Russian financial institutions.

He complained that foreign branches of Russian banks did not receive any assistance from the western governments.

"I think it was discrimination and I hope time will mend the situation," Putin noted.

The prime minister also said that the federal budget for 2011 would be drafted based on assessment of the oil prices from 70 to 75 U.S. dollars per barrel.

Source: Xinhua


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