Economic growth slowing in the world, risks serious - Medvedev

Author: us-russia
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Economic growth slowing in the world, risks serious - Medvedev
Published 17-04-2013, 05:55
The tendency for the world economy to slow persists, Russian Prime Minister Dmitry Medvedev said in a report on the government's performance in the State Duma. "The first few months of this year are showing that the tendency for the world economy to slow persists. There are serious risks here," Medvedev said. He said the government had foreseen a slowdown in the pace of development in connection with the situation in the global markets.

"The government's job is to carry out balanced measures to achieve an acceptable dynamic for the main indicators," he said. Medvedev said he discussed measures to stimulate economic development at a meeting with the president on Monday.

"We agreed to have a meeting at a presidential forum with experts and possibly State Duma deputies involved. Essentially we're talking about the fulfillment of the famous presidential decrees and main areas of the government's activity," he said.

Medvedev said the government had its own vision about what has to be done in these conditions. "But these measures have to be discussed in detail with experts, with the deputies. I repeat: we have common goals and common responsibility," he said.

In his annual financial report before Russia’s Duma, Medvedev said the country’s gross domestic product (GDP) rose 3.4% over 2012, while the average salary growth rate upped from 2.8% to 8.4% in 2011. He also praised the current 5.5% unemployment rate as "unprecedented.”Russia’s PM Dmitry Medvedev has called the country’s macro-economic growth in 2012 sufficient, stressing its low public dept meant it could borrow money on good terms.

According to Medvedev, the 2012 federal budget showed a very low deficit of 0.06% compared to 8.2% in Britain, 8.7% in the US, or 10% in Japan.

 

Russia recorded a 10% national debt in 2012, which is remarkably low compared to many developed economies, such as the US (over 100%), France (90%) or Germany (83%).

 

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