Putin-Proposed Measures To Decrease Poverty By 10% By End Of 2020 - Economy Minister

Paying out benefits to families for children aged 3-7 jointly with other initiatives announced in the president's address to parliament will reduce poverty in Russia by more than 10 percent by the end of 2020, Russian Economic Development Minister Maxim Oreshkin said Wednesday

MOSCOW (UrduPoint News / Sputnik - 15th January, 2020) Paying out benefits to families for children aged 3-7 jointly with other initiatives announced in the president's address to parliament will reduce poverty in Russia by more than 10 percent by the end of 2020, Russian Economic Development Minister Maxim Oreshkin said Wednesday.

Russian President Vladimir Putin, in his address to the Federal Assembly, proposed introducing from January 1, 2020 monthly payments for each child in Russia aged 3-7. He said payments for a child would initially amount to 5,500 rubles ($89), and in 2021, if necessary, they could double.

"According to our assessment, this measure jointly with other measures will reduce poverty by more than 10 percent by the end of this year," Oreshkin told reporters.