Economic records of post-crisis Russia

Economic records of post-crisis Russia

Russia's inflation has reached a historical minimum, the Russian Prime Minister Dmitry Medvedev said at today's government meeting 

"The positive dynamics of the gross domestic product is being restored, inflation is at a its historical minimum, unemployment is also low," he said, adding that Russia's economy has seen a marked recovery in domestic demand, RIA Novosti reported.

The Russian Ministry of Finance published the draft law on the Russian federal budget for 2018 and the period of 2019-2020. The forecasted deficit of the federal budget in 2018 will reach 1.33 trillion rubles ($23.07 bln) with income of 15.18 trillion rubles ($263.28 bln) and expenditures of 16.51 trillion rubles ($286.35 bln). 

The budget deficit in 2019 is expected to amount to 867.01 bln rubles ($15.04 bln), the draft law adds.

In 2020, the budget deficit is expected to amount to 960.32 bln rubles ($16.65 bln), according to the draft law.

The vice-rector at RANEPA Alexander Safonov, speaking to a correspondent of Vestnik Kavkaza, noted that, according to social polls, Russia's citizens have not noticed any significant changes in the movement of unemployment and the growth of new opportunities.

"Moreover, the population identifies two main problems as the main ones. The first is the lack of jobs, that is, the inability to find a job with good working conditions, the second is the lack of money to fulfill their tasks, the acquisition of goods. So, according to the population, there is no such effect of stabilizing the economic situation," the expert explained.