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Putin considers economic growth and creation of new jobs Russia’s priority in G20 chairmanship

July 18, 2013, 12:43 UTC+3

The Russian leader said: “We prioritize these tasks during our chairmanship to develop the modern society”

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MOSCOW, July 18 (Itar-Tass) - President Vladimir Putin said Russia’s purpose in the G-20 was to stimulate the economic growth and create jobs.

In the greetings message to participants in a meeting between the G-20 ministers of labour and employment and its social partners, Putin said: “We prioritize these tasks during our chairmanship to develop the modern society.”

According to the International Labour Organization, there are about 20 million unemployed in the world. Mostly unemployment touches on the youth. Structural unemployment and the lack of jobs for qualified specialists “engender new poor people and dependents”. The growth of informal employment reduces tax proceedings and leads to the shortage of money in social and pension funds.

Putin noted: “The politics, which is aimed at making real changes in the field of labour and employment, is in demand under these circumstances.” “In order to solve problems effectively we need a systematic approach, which will take into account macroeconomic, financial and social conditions. Any strategy on the economic development cannot be realized without adequate political efforts and without creating new jobs. The joint meeting between the ministries of labour and the finance ministers was one of the first steps and this has become the innovation of Russia’s chairmanship,” the Russian president said.

Putin stressed the need to consider the labour market in inter-relation with finances, investments, the budget and fiscal policy. “We follow these principles and work on creating and modernizing effective jobs, discuss with business-like associations and trade unions,” the president said in the telegram.

The first meeting of the G-20 ministers of finance and labour will take place in Moscow on July 19 within Russia’s chairmanship of the G-20. The meeting will focus on the policy to stimulate the stable, sustainable and balanced growth and ensure favourable conditions for creating jobs. The participants in the meeting are expected to assume obligations in order to pursue an integrated policy related to the labour market in such areas as employment, the creation of jobs through investments and developing financial institutions, and the formation of the investment climate in the G-20 countries.

After the meeting the ministers will make a joint statement.

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