Russia: Putin calls real wage growth ‘a crucial focus area for the government’

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Russian President Vladimir Putin stressed the importance of increasing the population’s real incomes, calling this a priority area for the government, speaking at the 11th VTB Capital ‘Russia Calling!’ Investment Forum in Moscow on Wednesday.

“It is widely known that there is currently both nominal and real wage growth, yet at the same time disposable incomes are at a standstill. Obviously, we need to change this situation. This is a priority focus area for the government, and the results in this field are still modest,” the President explained.

He also underlined the necessity to increase labour productivity through new technologies, skills enhancement and the development of job competency training schemes.

Additionally, Putin discussed his view on Ukrainian President Volodymyr Zelenskiy’s actions to end the conflict in Donbass, emphasising that the Ukrainian leader “really wants to change the situation for the better” yet it is still unclear to what extent he will be able to do so.

VTB Capital’s Forum is a global event that brings policymakers, investors and business figures together to promote dialogue and strategic investment in Russia’s economy.


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