Putin: Moscow has managed to weather the economic crisis due to the COVID-19

Poutine: Moscou a réussi à atténuer la crise économique due à la COVID-19

Russia has managed to limit the shock of the outbreak of coronavirus on the country’s economy, which is now in recovery, “progressive,” said Thursday president Vladimir Putin.

“We can say today that (our) actions have had a result, and they have helped to significantly alleviate the severity of the crisis,” he said at a government meeting by visio-conference.

“Now, as the lifting of restrictions, the economic activity restarts gradually “, he continued, noting, however, that the severity of the crisis had been “very serious” and “palpable” for the Russians.

“In some countries the amount of aid actually spent was much higher, but we got exactly the result we wanted,” has defended the president, the amounts released by the authorities have been criticized for their relative weakness compared to other european neighbours.

The Russian economy has been hit hard by the slowdown in economic activity caused by the closing of borders, containment measures, but also the fall in oil prices after a dispute between Moscow and Riyadh.

To curb the epidemic, the month of April had been completely non-working in Russia, and may in part. The Russian government said they expect a fall in GDP of 5% on the year.

On Wednesday, Vladimir Putin noted that ” nearly 3 million Russians were officially registered as job seekers.

An increase compared to the month of may, when 2.1 million people were registered as unemployed, according to official figures.

On the whole of the active population, the unemployment rate stood at 6.1% in may, an increase compared to April (5.8%) and march (up 4.7%).

“The primary objective of our economic policy is to restore the level of activity” by 2021, stressed the Russian president.

To mitigate the recession, the Russian authorities have provided grants and aid to families and businesses, but they were reluctant to touch the large fiscal reserves of the country.

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