Putin: Inflation acceleration poses risk for socio-economic devt

MOSCOW, Jul 25 (PRIME) -- Russia's inflation is accelerating posing risks for the socio-economic development, President Vladimir Putin said on Tuesday.

"One of the risks (for social and economic development) is inflation acceleration," the president said. Putin estimated inflation as moderate but with traits of an acceleration "including because supply by Russian producers is lagging behind demand," he said.

The president urged for a timely indexation of the salaries of state workers.

Putin said he hopes that Russia's gross domestic product (GDP) would rise more than 2% in 2023 after adding 0.5–0.7% on the quarter for several quarters.

The economy will likely keep a high growth rate in the next several quarters, as follows from good business activity indicators such as lending.

"According to preliminary data, the ruble corporate loans growth exceeded 21% as of July 1, of loans to the households 16.7%. These amounts of lending point to the rising needs of the business in minerals, materials and equipment," Putin said.

Budget income will rise as well, he added.

According to Putin, Russian business coped with the difficulties successfully. Unemployment has started to decline and amounts to 3.2%, while real wages soared by more than 10% in April, he said.

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