Medvedev knows how to 'warm up' Russian economy

Medvedev knows how to 'warm up' Russian economy

National Projects will influence on domestic economy over time but measures should be taken to warm it up already this year, Russia's Prime Minister Dmitry Medvedev said.

"Growing investments within the scope of National Projects will give its effect later on but we need to think also of developments taking place right now, this year," he noted at a meeting on achievement of national development goals in the economic sphere and the housing sector.

Medvedev noted that by the end of 2018, Russia's GDP grew by a little more than 2% and in the beginning of this year, the dynamics had become worse. "Of course, there are objective reasons for this, some of them are instability of markets, slowdown of the global economy, prudence of investors, low consumer demand, sanctions and trade wars that are unfolding," he explained.

"The financial and economic bloc of the government, naturally, must take these risks into account, but I want to emphasize - take into account but not to use them to justify why we don’t have the necessary changes," the PM added.

"Appropriate measures should be prepared to mitigate such risks," TASS cited Medvedev as saying.