Russian President Vladimir Putin met with Prime Minister Mikhail Mishustin for a formal discussion at the Kremlin, with officials confirming the encounter through TASS. The meeting followed Mishustin’s participation in the regular weekly session where the head of state and the government reviewed current national priorities. During a later stroll through the Kremlin grounds, the president reportedly spoke with a girl from Dagestan, and agreed to reconnect with her later in the evening, according to agency reports. (TASS)
The Prime Minister arrived at the meeting with a prepared report detailing key economic indicators and policy updates. Mishustin outlined the latest data on Russia’s economic performance, noting a mix of strong labor market signals, ongoing social commitments, and a cautious assessment of growth prospects. (TASS)
One of the central takeaways was the progress toward national project targets. Mishustin reported that the average progress level across national projects stood at 98.95 percent, underscoring execution efficiency across several long-term initiatives. (TASS)
On wage dynamics, the Prime Minister highlighted that real wages in Russia had risen by about 4.2 percent in the first four months of 2023, reflecting a period of improving household income alongside targeted social support measures. Unemployment remained near historic lows, around 3 percent, signaling a resilient labor market despite external challenges. (TASS)
Beyond wage and employment metrics, Mishustin reaffirmed the government’s commitment to its social guarantees, ensuring that all social protections promised to Russians would be fulfilled. This emphasis aligns with ongoing efforts to sustain household stability in a variable macroeconomic environment. (TASS)
The briefing also covered the corporate sector, noting a strong start for small and medium-sized enterprises. The Prime Minister pointed to the creation of approximately 1.4 thousand new SMEs in the first half of 2023, indicating a continued expansion of private enterprise and entrepreneurship. (TASS)
GDP growth data for the early months of the year showed a modest expansion, with a 0.6 percent increase recorded in the first five months. While growth has faced headwinds from global developments, officials emphasized a trajectory that supports ongoing domestic investment and productivity gains. (TASS)
In summarizing the overall economic situation, Putin expressed cautious optimism, noting that current indicators suggested the economy was performing better than earlier expectations. The assessment reflected a belief in the effectiveness of the government’s fiscal and structural policy mix, as well as the resilience of consumer demand and industrial output in the domestic market. (TASS)
During the briefing, attention was also given to broader monetary policy considerations, including discussions about potential shifts in the central bank’s key rate, as markets and analysts monitor any signals about future policy adjustments. The dialogue signaled a careful approach to balancing growth with price stability, aiming to maintain financial stability while supporting investment. (TASS)