Putin sees Russian economy recovering to pre-crisis levels by 2012
16 Jun 2011
Russia's economy, although now recovering from the market meltdown, remained well below the level it was before the global financial crisis, prime minister Vladimir Putin told the International Labour Organisation in Geneva yesterday.
Addressing the 100th annual meeting of the UN organisation, Putin said Russia had managed to recover two-thirds of its economy, but still had not reached pre-crisis levels.
The recession saw the Russian economy contract by almost 8 per cent.
He projected his country's economy, the world's sixth-largest. would recover, reaching pre-crisis levels by 2012, eventually rising to become one of the world's top five.
"We have set an ambitious task - over the next decade - to steer Russia into the top five economies in the world, and to raise the GDP per capita from the current 19,700 dollars to more than 35,000 dollars per person," he said.
"But, to do this, we need to increase productivity two times …and in non-raw material, high-tech sphere three or four fold."
Calling for "a more fair and balanced economic model" that better reflected the needs of the world's inhabitants, he said his government was prioritising social programmes such as increasing aid for young mothers, disabled workers and people with health problems as it recovers.
"We will not retreat from our social commitments," added Putin. "We will not increase the already existing 40-hour working week. We will not compromise on safety and environmental standards. In dynamic and economic growth innovations and modernisations are not important themselves. They need to create new opportunities for people, to increase salaries …and improve the quality of life."
On Tuesday, German chancellor Angela Merkel told the ILO meeting that her country had emerged from the financial crisis economically healthy and had greatly benefited from a government-backed plan for companies to cut working hours.
Germany's unemployment rate registered 7 per cent in May, far below that of most European countries.
.webp)
