Overview
- Speaking at an economic meeting in Moscow on Wednesday, Vladimir Putin said Russia’s macro indicators are running below forecasts and that GDP fell 1.8% across January and February.
- Manufacturing, broader industry, and construction have posted losses early in the year, according to his summary of recent data.
- Putin directed the government and the financial bloc to draft concrete steps to restart growth, back business initiatives, and steer jobs toward higher value industries.
- The president said unemployment stands at a record 2.1% and pointed to a shift toward flexible, platform-based work that is reshaping the labor market.
- He stressed keeping public finances stable with a balanced budget given volatile foreign markets and said last year’s structural transformation plan is underway and will be refined.