Support The Moscow Times!

Putin Wants Stimulus

Russian President Vladimir Putin called on Monday for his government to draw up a package of measures to boost economic growth, while warning against changes to the country's recently adopted fiscal rule.

"We need to do everything necessary to secure stable and steady development of the Russian economy. To take a range of measures for stimulating economic growth," Putin said at a meeting with senior government officials to discuss economic policy, in the resort city of Sochi.

Russia's economy expanded by 1.1 percent year-on-year in the first quarter, barely half the growth rate seen in the final quarter of last year, as it was hit by slower investment and exports and weaker consumption. With prices of commodities — Russia's chief export — falling, some senior officials have warned the country could slide into recession.

The Economy Ministry this month cut its forecast for economic growth this year to 2.4 percent, from 3.6 percent.

(Reuters)


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more