Putin: Russia must attain labor market recovery in 2021

MOSCOW, Jul 16 (PRIME) -- Russia’s labor market must fully recover in 2021, and all instruments, including budget funds, should be used to ensure employment and income growth, President Vladimir Putin said at a government meeting to discuss the 2021 and the 2022–2023 budgets on Thursday.

“The main task of our economic policy is recovery of employment. We must give the people a chance to work, earn money and keep their families. I want to stress one more time that the task of full recovery of the labor market in 2021 must be fulfilled,” he said.

“All the tools should be used to support growth of employment and individual incomes, including the federal budget’s facilities,” he added.

The president also said that the government should retain its responsible social policy to balance and increase sustainability of the state financing system.

Russia’s budget planning should consider new tasks, trends and challenges, including the coronavirus pandemic, he added.

The government’s unprecedented measures to support the economy and the people during the pandemic-caused slump have proved correct and managed to smooth the crisis, Putin said.

“The situation required instant measures from us. We had to support some industries, companies, businesses, employees, and organizations… and we had the possibility of adopting timely spot measures… Apparently, we have managed to put a finger on the right spots… including direct payments to the families with children, raising unemployment payments, deduction of tax payments, granting additional orders to companies of the key industries,” he said.  

Russia’s consumer demand is recovering with goods and services purchases exceeding in June and July the pre-crisis figures seen in February, the president said.

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