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Putin notes timely, well-calculated measures helped Russian economy to overcome downturn

Russia managed to mitigate the investment risks of the economy due to focused efforts in this area, according to the president

© Alexei Druzhinin/Russian Presidential Press and Information Office/TASS

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NOVO-OGARYOVO, March 11. /TASS/. Timely undertaken measures made it possible for Russia to overcome the downturn and initiate economic recovery, President Vladimir Putin said on Thursday.

"Owing to timely, well-calculated measures of supporting industries and business, we managed in broad terms to overcome the slump in the economy and achieve its recovery," Putin said.

This is seen from the domestic demand dynamics and gradual lowering of unemployment, the president noted.

Russian authorities were guided by the principle of providing government support in the challenging situation to labor teams, enterprises and companies and giving the helping hand to those maintaining employment and investing in development, Putin added.

Russia has managed to mitigate the investment risks of the economy due to focused efforts in this area, the president stated. "We have managed to avoid a dip in the investment activity due to the targeted economic policy. The investment risks of the Russian economy declined significantly," the head of state commented.

The national GDP dropped by 3.1% in 2020, Putin noted. "At the same time, fixed capital investments even moved into positive territory in the fourth quarter of 2020. Their growth was 1.2% year-on-year," the head of state added.

At the same time, investments dropped by 1.4% as of year-end 2020, the president said.

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