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Falling demand is most sensitive issue for economy, Putin says

The volume of retail trade, retail sales in Russia fell by more than 35% in April, the president said

NOVO-OGAREVO, April 14. /TASS/. Russian President Vladimir Putin is concerned about a significant decline in demand and in retail sales.

"Decline in demand is the most sensitive problem for companies - both in our country and in other countries. The volume of retail trade, retail sales in Russia fell by more than 35% in April," the head of state said at a meeting on economic issues.

In his opinion, "this shows how sharply, almost instantly, the market has contracted." Putin stressed that "for many enterprises this is a real shock."

"Consumption of energy resources is another integral indicator of the state of the economy. And again, the dynamics is, unfortunately, negative there," the President said.

According to him, "in the first 12 days of April, electricity consumption decreased by 5% compared to the same period last year, which means that enterprises started to load their capacities less."

"Besides that, there has been a real stagnation in lending to the real sector of the economy. This means that many investment plans of companies, development and renewal programs of enterprises have been put on hold," the head of state said.