Mikhail Mishustin: “Despite existing challenges, the GDP continues to expand. Inflation is gradually subsiding. According to Rosstat, 2.1 percent unemployment levels were posted in late August. Real wages in all economic sectors soared by 4.5 percent in seven months.”
Mikhail Mishustin chairs strategic session on sustained growth macro-policy implementation
Mikhail Mishustin chairs strategic session on sustained growth macro-policy implementation
Mikhail Mishustin chairs strategic session on sustained growth macro-policy implementation
Mikhail Mishustin’s opening remarks:
Good afternoon, colleagues,
The Government continues to create favourable conditions to raise living standards. Efforts to facilitate sustained economic growth, to reduce poverty and unequal incomes have become their key elements. Despite existing challenges, the GDP continues to expand. Inflation is gradually subsiding even despite a considerable budgetary burst in early 2025 to promptly launch multiple state programmes and projects.
Demand for human resources remains high. According to Rosstat, 2.1 percent unemployment levels were posted in late August. Real wages in all economic sectors soared by 4.5 percent in seven months. At the same time, we are making the real economy and social sphere more cost-effective. The Labour Productivity federal project aims to accomplish this objective. We have built a chain of competence centres, and this process involves thousands of companies and experts.
We continue to make headway here by developing the platform economy, by utilising state-of-the-art technologies, automation and AI.
By 2030, poverty levels are to drop below seven percent; with this in mind, we have launched the upgraded Family national project.
There are plans to increase its funding volumes to 3,240 trillion roubles throughout 2026.
As instructed by the President, the Government consistently raises minimal wages which outpace inflation. Since January, these wages have increased by over 16.5 percent and reached 22,400 roubles.
This trend will continue next year; the subsistence minimum will soar by over 20.5 percent to reach 27,093 roubles. This will boost living standards of about 4.5 million employees.
Other social support measures are implemented, including the single allowance. Since January, it has increased by over 12.5 percent and reached 17,201 roubles. It will soar by another six percent next year, reaching 18,371 roubles.
We are also helping people find jobs. This past September, we launched a career guidance programme for all students, including last-year students. The programme incorporates schools, universities and colleges, employment services and executive agencies into one single mechanism which makes it possible for any student to chart their career trajectory from choosing one’s occupation to landing a job.
We are formulating HR demand forecasts. In the past, we assessed the situation over a period of five years, and we have now extended this deadline to seven years; this makes it possible to compile longer-term models and to plan our resources.
We are also upgrading the targeted education system. Since 2024, all procedures, including the submission of applications by employers and the signing of contracts, are conducted on the Work in Russia integral digital platform. This creates a transparent and user-friendly mechanism.
We are making the employment service more effective. About 1,400 centres will be modernised before the year is out. We are planning to complete this process in 2028.
We will continue to create favourable conditions across the country, so that people can build their careers and receive fair wages.
Colleagues,
It is important to see all emerging challenges that can hamper the country’s development.
The global trade system continues to change. Protectionist moods are becoming more pronounced all over the world, including unilateral and quite substantial tariff hikes. Increasingly greater geopolitical challenges impact traditional goods and commodities supply channels, including energy resources. Other risks are emerging.
While responding to these challenges, we need to consistently accomplish our strategic objectives, as stipulated by the President, retain budgetary and macro-economic stability, formulate a supply-based economy, create a favourable investment climate in our country, ensure technological and financial sovereignty and, in the long run, to boost our people’s standards of living.
Today, we will discuss what aspects should be prioritised, and what additional measures should be implemented.
