Putin: Russian Economy on the Rebound

Recovery trends in the Russian economy are becoming stronger but the revenue base of certain regions is still unstable, President Vladimir Putin said on Wednesday at a meeting with Cabinet members, TASS writes.

“Recovery trends in the Russian economy are just becoming stronger. We know this well. Meanwhile not all constituent entities see a steady increase in business activity, due to which the revenue base of regions is still unstable in many aspects,” Putin said.

Authorities have been keeping a close eye on the topic of regional finance, the Russian leader said. The government was tasked to prepare a concept for the program of infrastructural development of regions and address the issue of its financing, the president added.

Parameters for extra financial support for regions in 2021 should be determined within a fortnight, Vladimir Putin said.

“I would like to recall that work on the State of the Nation Address is underway now. In this regard, dear colleagues, I request determining parameters of extra financial support for constituent entities this year, so that I will be able to factor them into the presidential address,” the head of state said.

The president also ordered to prepare specific proposals “on restructuring commercial debts and launching the program for regional infrastructure development.”