Putin: Russia doesn’t need to return to spring-style restrictions

MOSCOW, Oct 22 (PRIME) -- There is no need for Russia to return to restrictive measures that were introduced in the spring, President Vladimir Putin said in a video speech at an annual meeting of the international discussion club Valdai on Thursday.

“The situation generally demonstrates that as of today we do not need to return… to such restrictive measures that we used in the spring of 2020… Our healthcare responded effectively, and now we have reserves created, including hospital beds reserve, medicines developed, treatment guidelines prepared. Our doctors understand and know what to do. We are sure now that we are able to cope with the problems,” he said.

Russia’s macroeconomic metrics are acceptable now, the economy has been recovering, Putin also said.

“Our processing industry is recovering, the agricultural complex has demonstrated great results and even a rise. Exports are recovering. We still have some issues to set targets, but our macroeconomic metrics are generally acceptable,” he said, adding that the economy shrank by 8% in April–June, as compared to a 9% fall registered in the U.S. and a 14.5–14.7% decrease in the E.U.

Russia does not need to close any production facilities, but the government should adjust aid programs for separate industries including small and medium businesses to provide additional support, Putin said.

He also said that Russia has managed to use its resources effectively to support its citizens and economy in the pandemic conditions.

“Lives and health of our citizens are no doubt the most important thing. Of course, lives and health are connected with the healthcare industry, which should obtain serious support of the federal-level and other budgets. It is important to find a balance… We have made a number of serious steps to support the economy in the amount of 4.5% of gross domestic product (GDP),” he said.

The president said that Central Bank Chairwoman Elvira Nabiullina confirmed that inflation will end up nearly 4% in 2020.

Putin also said that Belarussian President Alexander Lukashenko understood the coronavirus threat, but he had no reserves to close the economy at the beginning of the pandemic.

End