NOVO-OGAREVO, July 18. /TASS/. The pace of poverty reduction in Russia is still insufficient, President Vladimir Putin said when opening a meeting of the Council for Strategic Development and National Projects on Monday.

"One of our main national goals - we talk about it all the time - is to improve the economic situation of our citizens, increase their incomes, especially for those citizens who live modestly, to put it mildly, that is, the main goal is to reduce poverty," Putin said.

The Russian leader recalled that in 2017 this indicator in the country was 12.9%, and at the end of last year it decreased to 11%.

"Of course, there is progress but its pace and speed are obviously insufficient. Therefore, even with higher inflation this year (which is gradually declining by the way, thanks God) I set the task to reduce poverty and inequality, which is not less important," he said.

According to him, a whole range of measures is being implemented for this purpose. Since June 1, pensions and the subsistence minimum have been adjusted to inflation by an additional 10%, which means that "they are currently 19.5% higher than last year." The scope of measures to support families with children has been significantly expanded. Now low-income families can apply for monthly payments - starting from the mother's pregnancy and until the child reaches 17 years of age.

"Of course, social contracts play an important role in reducing poverty and inequality, we have been engaged in this area for a long time. Almost a million citizens became participants in these programs last year. It is important that social contracts give people a real chance of further employment or starting their own business, although small and modest, but their own business. The work of the regions should be aimed at this," Putin said.

He asked the Accounts Chamber to analyze the effectiveness of this tool and submit proposals for its further development.