Russian President Vladimir Putin spoke at a meeting of the Strategic Development and National Projects Council about poverty in the country. He asserted that the poverty level would reach a historical low by the end of 2023, signaling a clear intention to push the nation toward greater economic stability and living standards. This bold projection was framed as a milestone that would mark a turning point in Russia’s social and economic policy.
The president emphasized that achieving a long awaited minimum in poverty would require sustained efforts across multiple fronts. He argued that building an economy capable of supporting qualified personnel and competitive wages is essential. He also highlighted the need to open new production facilities while modernizing existing industries, viewing these measures as fundamental to creating more high quality jobs and expanding opportunities for ordinary citizens. In his view, these changes would lay the groundwork for healthier household incomes and reduced poverty levels over time.
Putin underscored that lifting living standards is not merely about one set of reforms but about a comprehensive approach. He described a chain of actions aimed at raising real wages and expanding employment opportunities, arguing that steady wage growth is central to bringing poverty down. The president suggested that only through robust economic activity and increased productivity can real incomes rise for a broad segment of the population, including those who have historically faced the sharpest cost of living pressures.
During remarks at the St. Petersburg International Economic Forum in June, it was noted that in 2022 around 1.7 million people in Russia moved above the poverty line. The implied trajectory, according to the president and his administration, reflects a move away from the double-digit poverty rate toward a much lower level, tightening the gap between economic performance and social welfare. The discussion at SPIEF highlighted the progress that has been made and the ongoing work required to sustain improvement in poverty indicators.
At the start of the new year, the government was given a mandate to ensure real wage growth and to pursue continued poverty reduction within the Russian Federation. This directive was framed as a continuation of the broader strategy to align macroeconomic policy with social objectives, ensuring that the growth in national output translates into tangible benefits for households across the nation. The president also pointed to the need for accurate reporting and clear communication about poverty dynamics, aiming to counter misperceptions about what is happening in the economy.
Across these comments, the emphasis remained on structural reforms, investment in industry, and the creation of a more competitive, productive economy. The overall message suggested by the president is that sustained policy focus, together with private sector confidence and investment, can drive meaningful declines in poverty as higher wages and more jobs take root. The administration appears intent on maintaining a steady course that links economic expansion with concrete improvements in living standards for Russians, with the expectation of visible progress as the year unfolds. Attribution to official Kremlin statements reflects the government’s ongoing commitment to monitoring poverty trends and adjusting policy to meet evolving needs.