Russian President Vladimir Putin speaks to workers during a meeting after he rode a train over the bridge connecting Russia and Crimean Peninsula. He was near Anapa on December 24, 2019, when he met with them.
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CNBC spoke to President Vladimir Putin on Wednesday about his greatest concern, which was improving Russian citizens’ lives. It is a rare glimpse at the worries of one of world’s most powerful leaders.
Putin said that his biggest problem is increasing the revenue of citizens. After being asked about his biggest concern today, Putin answered that it was inflation, stagflation, the European gas crisis, or tensions in the South China Sea.
He said, “This is our major challenge… we must ensure economic growth as well as quality. “These are our long-term goals,” he stated.
Putin stated that Putin was going to “improve the social condition to increase our citizens’ revenues and to address the second important task of the demographic situation.” This involves many social issues like healthcare, education and supporting families with kids.
These are two important points. [the]Economic growth should lead to solutions for the demographic problem, increasing our citizen’s income and improving the quality of their lives. “That’s exactly what we plan to do in near future,” he stated.
Russian President Vladimir Putin is seen at a plenary session in Moscow on the Russian Energy Week International Forum. October 13, 2021.
Sergey Guneev | Sputnik | Reuters
He made these comments as Russia’s GDP Per Capita, a key indicator of economic performance, is still lower than its counterparts in the OECD or EU.
CNBC’s Chris Weafer was chief executive of Macro-Advisory in Moscow, which is a strategy consultancy. “the real issue which scares the Kremlin is the changing demographics,”With a growing number of Russians being born after the collapse of Soviet Union and looking for a higher standard of living.
″[They]Weafer stated that they want a more comfortable lifestyle and income, as well as better financial and social support for their children and families. The big problem for Putin and his so-called Russian elites will be to meet those expectations, while still maintaining power. The failure to do the first will make the latter more vulnerable in the next term, no matter the president.
Putin’s two decades of rule have undoubtedly seen a time of rapid economic growth for Russia. Russia remains a strong player on the international geopolitical scene.
Russia is like every other country, but it hasn’t been immune from domestic and international events —Both under and beyond Russia’s control —Its growth has been halted and its people have suffered financial hardship.
Continue reading the CNBC interview with Vladimir Putin
It was particularly evident during 2014 when oil prices fell and Russia annexed Crimea to its neighbour Ukraine put immense pressure on both the economy as well as society. The reason was lower revenues to Russia’s oil-exporting country and the new sanctions placed on Russia by international organizations for its Crimea land grab. Russian consumers suffered greatly from the huge drop in ruble, which led to rampant inflation. Prices for basic products also soared due to this.
Recent events such as the Covid-19 epidemic also affected Russia’s economy. However, it performed better than many developed nations. The World Bank reported that Russia’s GDP (gross domestic product) declined by 3% between the 3.8% global contractions and 5.4% among advanced economies.
Russia’s performance was aided by several factors. Russia recently undertook substantial macro-fiscal stabilization activities, which led to a more stable fiscal situation. In a May report, the Bank stated that a massive bank sector cleaning, along with increased regulation and supervision, had strengthened capital and liquidity buffers.
Learn moreThis is: 5 charts show Russia’s economic highs and lows under Putin
However, there is still serious public health concern in this country due to high rates of pandemics and slow vaccines. on Wednesday, Russia reported its highest daily death toll since the start of the pandemicA previous record was broken by a woman on Tuesday.
On October 9, 2021, people walked through Moscow’s Red Square on a warm autumn day.
DIMITAR DILKOFF | AFP | Getty Images
Economists at the World Bank forecast last weekRussia’s GDP is expected to increase by 4.3% in 2021. It will then fall back to growth of 2.8% and 1.8% respectively in 2022-2023, as the output gap narrows. According to the Bank, “continued global economic recovery, high oil prices and a better Covid situation will help consolidate domestic demand’s incipient recovery.”
Putin declined to answer questions about whether or not he would run for the office of president in 2024. although Russia’s constitution was changed in 2020, controversially, in order to allow him to do so
Should he run for re-election, a win is almost guaranteed, if Russia does not experience seismic changes over the next few decades. jailed Alexei NavalnyPutin is now 69 and could still be the leader of Russia until 2036.
Putin was asked if there were any succession plans on Wednesday. That will be decided at the time of the forthcoming elections.
Stabilizing the situation is our goal. “The situation needs to be stable and secure in order for world and power structures to function safely and responsibly,” said he.
Pro-Kremlin activists gather in Moscow’s Red Square on March 18th 2014 to commemorate the incorporation and naming of Crimea.
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The popularity of Putin has been fluctuating since 1999 due to both geopolitical and domestic events, according to the Levada Center independent polls.
Russia annexed Crimea in 1991. Putin’s popularity soared from 61% to 85%, for example,But his rating have declined steadily to 64% as of September.
It’s another question whether Putin believes he can resolve Russia’s internal issues, or if Putin should remain in power after 2024.
Levada’s latest survey on Putin’s standing with the Russian people, of 1,634 adults in late September with the results released this week, showed that 47% of Russians would like to see Putin remain as president after 2024, while 42% do not want that — the highest rate since 2013.
CNBC’s Russian Energy Week featured Putin’s obsession with growth and the trickle-down effects on everyday Russians as just one topic. He also spoke out on many pressing issues, including Europe’s crisis of gas and the future outlook for oil prices as well as tensions with China, Russia’s ally.President Xi Jinping once said Putin was his best friendTaiwan.
Russia, a major power in Europe as well as Asia, is largely due to its role in the global oil and natural gas market. But, Putin spoke in recent years of Russia’s need for diversification, referring to the necessity to reduce its dependency on exports.