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Russia on right macroeconomic track — Russian president

December 18, 2014, 13:30 UTC+3 MOSCOW

Current conditions are pushing Russia to work more and be more efficient, Russian President Vladimir Putin said

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Russian President Vladimir Putin

Russian President Vladimir Putin

© TASS/Ilya Pitalev

MOSCOW, December 18. /TASS/. Russian President Vladimir Putin said on Thursday he was confident in the country’s current economic situation as he had the “insurance policy” represented by the state’s right macroeconomic course of action and reserve funds for the fulfilment of social obligations.

“The insurance policy gives the confidence, as we know. In this situation the ‘insurance’ for us is the right macroeconomic policy course and reserve funds for the accomplishment of social tasks,” the president told his annual big news conference. “This is a reliable policy that instils confidence,” he said.

Current conditions are pushing Russia to work more and be more efficient, Russian President Vladimir Putin said at an annual news conference for journalists on Thursday. “We should work and external conditions make us be more effective and shift to innovative ways of development,” he noted.

Since he quoted the 19th-century Russian Foreign Minister Prince Alexander Gorchakov that “Russia is concentrating” in one of his election program articles in 2012, little has changed, the president said. So, for successful development of Russian economy favourable conditions should be provided for running businesses, business freedom should be ensured, the property right should be guaranteed, preferences for production should be enhanced, regions should be developed and several other measures should be taken.

“Do we do this or no? Yes, we do,” Putin replied to himself, recalling that in the recent state-of-the-nation address to the Federal Assembly he laid out the entire programme of concrete actions in this spheres, such as tax holidays for four years, relief of reliable enterprises from checks for three years, benefits for small businesses and other measures.

“We need to continue this concentrating and substantiate it with concrete work,” he noted.

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