| JRL HOME | SUPPORT | SUBSCRIBE | RESEARCH & ANALYTICAL SUPPLEMENT | |
Old Saint Basil's Cathedral in MoscowJohnson's Russia List title and scenes of Saint Petersburg
Excerpts from the JRL E-Mail Community :: Founded and Edited by David Johnson

#3
Putin says Russia's '02 goal better life for people

MOSCOW, Dec 29 (Reuters) - The government's main goal next year should be improving living standards as well as maintaining Russia's economic stability, President Vladimir Putin was quoted as saying on Saturday.

Putin was quoted by news agencies as saying the government had achieved much in 2001 but economic growth was yet to be translated into improved lives for ordinary Russians, whose average monthly wage is around 3,600 roubles (around $100).

"We should make it so that the growth is obvious for every citizen," Putin told the cabinet, according to Interfax news agency. "People are attaching great expectations to the next year and our task is to do our utmost to justify that trust. Our task is to care about improving the lives of citizens."

Putin reiterated that economic expansion was likely to stand at 5.2-5.5 percent this year after record growth of 8.3 percent in 2000.

"This is not only the result of prices for Russia's traditional exports, but the result of structural changes and better administration," Putin was quoted as saying by Itar-Tass.

"This is a result of strengthening domestic industry."

He noted that 2002 targets included restructuring natural monopolies which in Russia include gas giant Gazprom (GAZP.MO)(GAZPq.L), power grid UES (EESR.RTS) and the railways.

When answering viewers' questions on television this week, Putin said the government had failed to achieve its consumer price inflation target.

The government has set a 12-14 percent CPI target in the 2001 budget but later revised it to 17-18 percent. The State Statistics Committee said this week the CPI would stand at 18.6-18.9 percent.

However, Putin noted the government's success in reducing the country's huge $140 billion foreign debt by $10 billion without an increase in borrowing.

The central bank has repaid $2.7 billion early to the International Monetary Fund, with which Russia has no loan programme. The government has repaid its pilot $1 billion Eurobond and serviced interest on other kinds of debt.

($-30.14 roubles)

Back to the Top    Next Article