Putin: Unemployment level in today's Russia is record low

On April 25, President Vladimir Putin spoke at the Congress of the Russian Union of Industrialists and Entrepreneurs. Below are the key statements from his speech:

• The Russian economy has developed positive and strong dynamics, and one can see that in the situation on the labor market.
• Russia's GDP increased by 3.6% over the year. First months of this year have shown that GDP continues to perform well and demonstrate positive growth rates. In January — 4.6 percent in annual terms, in February — 7.7 percent. In the first two months of the year, there was an average increase of 6 percent.
• Average monthly wages in Russia in real terms increased by 8.5% in January.
• Unemployment in the Russian Federation remains below 3%, and it has decreased, including among young people.
• The state will continue to support businesses so that they work to improve the well-being of Russian citizens.
• Updated tax conditions with a more equitable distribution of the burden need to be fixed for a long period.
• There is no talk of revising privatization. Seizing a business can be justified only in case of dishonest actions of the owners.
• The adjustment of the tax system in the Russian Federation should be one of the steps to improve the investment climate.
• In the coming years, Russia will experience a shortage of personnel, which can hardly be compensated with migration.
• In the coming years, Russia needs to considerably increase the volume of industrial production by tens of percent.
• As much as 300 billion rubles will be added to the capital of the Industrial Development Fund.
• It is pointless and unnecessary to produce absolutely everything in Russia. However, it is necessary to have domestic developments in critical technologies.
• The Russian government is preparing to launch a modernised mechanism of regulatory guillotine. It will be another large-scale step on the way to de-bureaucratization.