Putin is quietly abandoning his previously established goal of Russia’s economic power



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This political movement sought to strengthen the nation’s support during Putin’s last term. But this month’s referendum will give you an opportunity after 2024. to administer two more terms, so there is no longer a rush to raise living standards, which have been hit by the latest pandemic.

“The goals must be realistic and achievable, and we are guided by that,” Kremlin spokesman Dmitry Peskov stressed during a conference call with journalists.

Russia’s economy is forecast to shrink by 6.6 percent this year. – more than worldwide, and a slower recovery is expected in the coming years. Based on the purchasing power parity that Putin used as the basis for his goal, Russia could overtake Germany this year and rank fifth in the world ranking, but in 2021, according to the International Monetary Fund, it would drop back to sixth.

According to a Kremlin decree announced Tuesday, many of the other goals set in the $ 400 billion investment and development program from 2024. were postponed until 2030. These include halving poverty and the fall of income, which have left the Russians poorer than before 2014. Suspension of the annexation of Crimea.

“Some goals seemed too ambitious from the start, including the goal of being in the top five,” said Sofia Donec, chief economist at the Renaissance Capital of Moscow.

Prime Minister Mikhail Mishustin blamed the coronavirus last week for the decision to postpone national projects. This year, the government approved a budget deficit to cover the rising costs of stopping the economic recession in the pandemic, but declined to take stock if necessary in the future to try to overcome an even bigger crisis.

Officials and analysts have been skeptical of Russia’s ability to achieve its goals, in part because the country has historically set very specific goals that are impossible to achieve. 2030 The decree, released Tuesday, is no exception, either. One of its chapters presents the goal of tripling attendance at cultural events, the other, forcing 70 percent. adults exercise regularly.



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