Putin: Russia will overcome everything, survive with minimal damage
(Baonghean.vn) - President Vladimir Putin said that Russia would not have been able to overcome the Covid-19 crisis if it had been under the conditions of 20 years ago. But now, all values have changed. The progress of the Russian economy over the past 20 years will help the country escape the crisis with minimal damage.
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| Russian President Vladimir Putin. Photo: TASS |
"I believe that Russia will overcome everything, survive and exist," President Putin affirmed in an interview on the program "Mosvka. Kremlin" on the channel "Russia 1".
Highlighting Russia's rise over the past 20 years, President Putin took time to recall the difficult journey.
"If you look back at the 1990s, of course, it was a very difficult time. The country received humanitarian aid, but it was not related to industrial disasters or natural disasters, but Russia was the poorest country in the world. From there, we overcame hunger. That's how we overcame it," President Putin recalled.
The Russian leader added that at that time, the country "could not pay salaries without external loans". "And many places did not pay salaries for months, half a year, and did not even pay the army".
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| Russia's GDP has grown dramatically over the past 20 years. Photo: Yandex |
"In the period from 1999 to 2019, the country's GDP doubled, meaning the economy grew twice as fast, inflation was at 2,600%. Even in 1997, when the first signs of GDP growth appeared, inflation was at 11%," President Putin said.
Mr. Putin emphasized that even in today's conditions, Russia sets itself an inflation rate of 4%, but "this is completely different". Currently, people's lives are more cared for with social security support, budget allocation to support economic development and industries affected by the epidemic.
"The question is: Where does the money come from? It is the country's large budget reserves," President Putin affirmed.
Continuing to ask the question: "So where was the budget capacity in the 1990s or early 2000s?", President Putin explained that, due to the country's chronic deficit, salaries and pensions could not be paid for several months in a row.
The Russian president said that the country’s reserves have increased 50-fold in recent years. The agricultural sector is a prime example of the ability to recover – something that no one dared to think about 20 years ago, because it was almost collapsed. However, in 2019, Russia’s agricultural sector exported nearly 25 billion USD.
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| From the brink of total collapse, Russia's agriculture has strongly recovered, becoming the world's largest wheat exporter. Photo: Financial Times |
"In the early 2000s, no one could believe that Russia would become the world's largest wheat exporter. This is a real achievement," President Putin expressed his confidence.
In the industrial sector, growth has reached 90% and production in manufacturing industries has doubled. However, President Putin said that Russia still has many problems to solve in order to diversify the economy.
"What we have been doing in recent years is the basis for hope that we will eventually emerge from the current crisis with minimal damage," President Putin stressed.
On July 1, a nationwide referendum will take place in Russia on constitutional changes, including “recalculating” previous presidential terms, allowing President Putin to run for subsequent terms and stay in power until 2036, after his current fourth term ends in 2024.
