Mishustin Says Enough Reserves Accumulated To Ensure Further Development, GDP Growth

Russia has enough in its coffers to ensure development and GDP growth in line with President Vladimir Putin's ambitions outlined at the annual address to the Federal Assembly, candidate for Prime Minister of Russia, Mikhail Mishustin, said Thursday

MOSCOW (UrduPoint News / Sputnik - 16th January, 2020) Russia has enough in its coffers to ensure development and GDP growth in line with President Vladimir Putin's ambitions outlined at the annual address to the Federal Assembly, candidate for Prime Minister of Russia, Mikhail Mishustin, said Thursday.

"Today, enough reserves have been created ... this is a very important factor for further development and to facilitate GDP growth, it is necessary to stimulate investment growth," Mishustin said, answering a question from a lawmaker regarding the budgetary concerns of the ambitious programs.

On Wednesday, Putin announced renewed focus on rejuvenating the economy and improving livelihoods of the Russian citizenry during his address to the country's lawmakers. Hours later, Prime Minister Dmitry Medvedev announced resignation of the government and top tax official Mishustin was named as candidate for his succession.

Mishustin noted that implementation of initiatives voiced by Putin will require approximately 4 trillion rubles ($650 million) for four years.