Mishustin urged to continue helping Russian businesses to deal with current challenges

The authorities need to continue to support domestic businesses in overcoming the challenges they face. This was announced on May 25 by Russian Prime Minister Mikhail Mishustin during his speech at a meeting with members of the Russian government.

During the negotiations, special attention was paid to the development of small and medium-sized enterprises (SMEs) in the context of the structural transformation of the economy. Russian Deputy Prime Ministers Alexander Novak and Dmitry Chernyshenko delivered their reports.

"It is very important to continue helping businesses overcome all current challenges. In particular, these are issues related to increasing labor productivity, building relationships — something that small businesses care about — with large companies, corporations, and platforms," Mishustin said.

In this matter, as he noted, we are talking not only about enterprises, but also about the people who work there. The Prime Minister of the Russian Federation explained that SMEs are one of the key drivers of necessary changes for people, which include innovations in services and creative industries. Currently, he said, there is a core federal project in the country and a number of incentive mechanisms in industry, tourism and the information technology industry.

"By May, the number of SMEs had already reached 7 million. This is the largest value in the last 10 years, that is, for the entire period of maintaining their register," Mishustin summed up.

Ensure growth: Putin instructed to consolidate the positive dynamics in the economy

In March, the recovery of the main indicators was recorded — GDP increased by 1.8%, industrial production — by 2.3%

The head of the Ministry of Economic Development of the Russian Federation, Maxim Reshetnikov, said on May 18 that the Russian government continues to implement measures aimed at increasing the potential for economic growth in the country. Among them, he referred to the plan of structural changes developed on behalf of Russian President Vladimir Putin to increase investment and employment. The domestic economy, as Reshetnikov explained, remains flexible and open to the outside world.

A few days earlier, on May 12, the Minister of Economic Development of the Russian Federation reported to the Russian leader that annual inflation in Russia is 5.6%. He also noted a 0.3% decrease in economic growth in the first quarter of this year, but stressed that, according to March data, "the economic growth rate was 1.8% year-on-year." At the same time, Kremlin spokesman Dmitry Peskov said that the government was taking the necessary measures to support the country's economy.