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December 24, 2007
Excerpts from the Transcript of the [Putin] Meeting with Cabinet Members
The Kremlin, Moscow
Minister of Economic Development and Trade Elvira Nabiullina concerning the results of international assessments of the volume of the world’s economies
ELVIRA NABIULLINA: The final results of international comparisons of the world’s economies have been published. These are global studies, which this year included 146 countries and territories worldwide. These data are interesting because they are calculated on the basis of purchasing power parity, that is, distinct from official exchange rates and domestic price structure. According to the data for 2005, Russia was in eighth place. The volume of GDP at purchasing power parity is one trillion seven hundred billion dollars.
VLADIMIR PUTIN: This means that we have gone up a place?
ElVIRA NABIULLINA: Yes. The United States is in first place, followed by China, Japan, Germany, India, Britain, France and, after us in the top ten, come Italy and Brazil. And we estimate that if we are able to maintain a high rate of growth, 6 or 7 per cent until 2020, then we will be in the top five. This is the goal we have set ourselves. Moreover, using PPP to calculate GDP per capita we were in 51st place. Raising the level of GDP per capita in purchasing power parity is a huge challenge for us. Now it’s 11861 dollars; the goal that we have set ourselves for 2020 is 30,000 dollars.
VLADIMIR PUTIN: Good. In order to deal with these issues on schedule, we need to work effectively with Parliament. Today an important event in the political life of the country occurred. The State Duma began its fifth session. At this time I want to use the media to address the deputies and congratulate them on the start of their work. I hope that the Government of the Russian Federation will continue to be as active in this joint effort as it has been to this point. All the legislation that has been previously announced and prepared must be quickly implemented through hard work. There is a very large, important and sensitive programme in the social sphere.
This work is critical. The welfare of our citizens, particularly those who get their income not from business but from wages, depends on how competently, efficiently and carefully we deal with these issues. This is what the budget will determine.
Prime Minister Viktor Zubkov – the first meeting of the State Duma
VIKTOR ZUBKOV: The deputies were in a good mood. One could feel this in the hall and in the statements of [Vice President of the Russian Academy of Science] Zhores Alfyorov. I talked about the legislation we have prepared, mostly relating to the social sphere, and told the Government to work as closely with this Duma as it did with the previous one.
VLADIMIR PUTIN: Did Zhores Ivanovich focus on specific issues?
VIKTOR ZUBKOV: He drew attention to the fact that we need to spend more on science, education and national projects.
VLADIMIR PUTIN: Really. As far as I know, Zhores Ivanovich was elected as a member of the Communist Party. And if a deputy of the Communist Party calls for more money to be spent on national projects, this obviously means that those who have voted communist up to now will be voting in the presidential election for our candidate, Dimitrii Medvedev. As everybody knows, he is in charge of implementing national projects. How things will actually go, we’ll see.