Putin named the reasons for the strengthening of the ruble

Macroeconomic indicators will help to soften the country's monetary policy. This was announced on July 14 by Vladimir Putin at a meeting with the head of Yakutia, Aisen Nikolaev. Discussing the economic challenges in Russia in general and in the region in particular, the president also explained the excessive strengthening of the ruble — the domestic demand for the currency is falling. In addition to financial issues, they examined in detail the infrastructural breakthrough of the republic — the development of the energy system of the Far East and the launch of the Lena Bridge. Special attention was also paid to new measures to support the participants of the SVO.

What was discussed at the meeting

Yakutia, despite external pressure, retained the status of a reliable economic backwater: ALROSA remained the only profitable diamond mining company in the world, and the region itself took the first place in Russia in silver mining and the second in gold and coal. As an export region, the republic is particularly responsive to macroeconomic conditions. Aisen Nikolaev directly complained that the strong ruble and the high rate are holding back budget revenues. The President explained the strength of the national currency simply: "We need less currency, we don't need it the way we used to."

It is important for the republic's economy to reduce the key interest rate, Aisen Nikolaev emphasized. After a conversation with the chairman of the Bank of Russia, Elvira Nabiullina, the head of the region had the impression that it could steadily decline. "This is as it should be, and it will be a natural process based on macroeconomic indicators and economic stability," the president noted.

Despite the financial turbulence, families in Yakutia are confident about their future. The number of large families has grown by 10% in a year, Aisen Nikolaev noted. And in general, Yakutia holds the leadership in life expectancy in the Far East — more than 75 years. A local large business has actively joined the development of demography — companies pay employees one million rubles each for the birth of a child. Assessing the high social responsibility of Yakut entrepreneurs, Aisen Nikolaev remarked with a smile: "Our business is real, crooks don't survive here, I'll say that," to which Vladimir Putin joked: "It's cold."

An unprecedented construction project has been launched in the region to improve living standards: 2 GW of energy capacity will be commissioned in three years. The construction of the long—awaited Lena Bridge worth 175 billion rubles is also in the active phase - the foundations for the riverbed supports have already been laid, while 26 billion rubles have been financed. In general, the republic has shown a historical maximum in national projects: last year, a record 809 thousand square meters of housing were commissioned. In addition, the region confirms the status of the country's creative leader: the collections of Yakut cinema have updated the record of 280 million rubles, and the largest film pavilion outside the Urals is already being designed there.

But Yakutia is not only concerned about intra-regional challenges. Aisen Nikolaev gave the president a special gift from the front line. It is engraved: "To the Supreme Commander from the Yakut warriors." Currently, 117 measures to support military personnel are in effect in the republic, and in May the country's first edition of the regional program "Yakutia — Land of Heroes" took place. Veterans of their military are actively involved in political life and win the primaries. The President called for the promotion of returning fighters and emphasized the importance of rehabilitation of the seriously wounded.