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Source: President of Russia – The Kremlin – English

Taking part in the meeting were Prime Minister Mikhail Mishustin Mishustin MikhailPrime Minister of the Russian Federation , Chief of Staff of the Presidential Executive Office Anton Vaino Vaino AntonChief of Staff of the Presidential Executive Office , First Deputy Prime Minister Andrei Belousov Belousov AndreiFirst Deputy Prime Minister , Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko Grigorenko DmitryDeputy Prime Minister – Chief of the Government Staff , Presidential Aide Maxim Oreshkin Oreshkin MaximAide to the President , Minister of Economic Development Maxim Reshetnikov Reshetnikov MaximMinister of Economic Development , Minister of Finance Anton Siluanov Siluanov AntonFinance Minister , Governor of the Central Bank Elvira Nabiullina Nabiullina ElviraGovernor of the Central Bank of the Russian Federation (Bank of Russia) , and Chief of the General Staff of Russia’s Armed Forces – First Deputy Defence Minister Valery Gerasimov Gerasimov ValeryChief of the General Staff of Russia’s Armed Forces .
President of Russia Vladimir Putin: Good afternoon, colleagues,
Traditionally, during the middle of the summer we begin working on the new federal budget. And today I asked you to meet in order to discuss the priorities of Russia’s main financial document for the upcoming 2021 and the 2022–2023 planning period. Of course, such analysis must also consider our new tasks as well as trends and challenges the entire world and, of course, Russia have to face today.
The coronavirus epidemic and related restrictions have practically frozen the global economy. A lot of manufacturing and construction work stopped in most countries; the turnover of trade and services has fallen. The unemployment rate has gone up to a critical level in some places.
I have already provided the number for Russia: as estimated, in April, when a period of non-working days was introduced, the Russian GDP decreased 12 percent; in May the decrease was 10.9 percent.
The situation required our immediate response. Of course, we had to help certain economic sectors, enterprises and businesses in general as well as employees of enterprises and organisations and to pass this difficult crisis stage and preserve Russian families’ incomes.
To be continued.

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