IN BRIEF: Putin’s key statements at Council for National Projects meeting

IN BRIEF: Putin’s key statements at Council for National Projects meeting Boosting investment activity is the primary condition for economic growth in Russia, the head of state said© Vladimir Gerdo/TASSMOSCOW, August 19. /TASS/. Attacks by the Ukrainian Armed Forces on industrial and infrastructure facilities in Russia cause damage, but there are no critical consequences and there cannot be any, Russian President Vladimir Putin told a meeting of the Council for Strategic Development and National Projects. Citing statistical data, the president described the country's economic growth dynamics as modest but positive. TASS compiled the head of state's key statements. National economy "As statistics show, economic dynamics overall are modest but positive," Putin said, adding that Russia’s GDP growth in 2026 "is around 1%." Boosting investment activity is the primary condition for economic growth in Russia, the president said. "From 2019 to 2024, fixed capital investment in Russia increased by over 40%. This result was achieved largely due to major infrastructure and industrial projects, which are primarily export-oriented. I am referring to sectors such as the chemical industry, metallurgy, mining, and petrochemicals," the head of state said. It is crucial to invest in projects that mainly serve domestic demand, Putin said. "I emphasize that it is important to invest in projects that are chiefly focused on domestic demand, on the technological development of all spheres of life, and on the platformization of economic sectors," the head of state said. "We must support the strengthening of the infrastructure of cities and towns, the modernization of housing and public utilities, and the construction and renovation of sea and river ports, airports, railways, and highways." "The construction sector demonstrated strong investment rates, thanks to instruments supporting regional development through preferential mortgage programs," Putin said. The plan for structural changes to the Russian economy through 2030, approved last year, must be implemented consistently and with results tracked: "On an ongoing basis, including at the regional level, taking into account not only the economic dynamics of federal subjects but also the state of their budgets and the level of their debt burden." Impact of Ukrainian forces’ attacks on Russian infrastructure "A number of factors affect economic growth, including external pressure and terrorist attacks on industrial and infrastructure facilities. Of course, there are no critical consequences from such attacks, there have not been, and there cannot be. But they certainly cause us harm, that is obvious," the head of state said. Russian trade infrastructure operates effectively and resiliently, despite recent terrorist attacks: "Work is certainly underway under intense pressure, but everyone working in this area is coping well with the challenges posed by the times," Putin said. Restoration of infrastructure facilities Logistics and warehouse capacity must be restored after attacks by the Ukrainian Armed Forces: "At the same time, logistics and warehouse capacity certainly require restoration, including with the participation of the state," Putin said. "I ask the government to adopt an appropriate program. It must also be taken into account that the restoration of damaged facilities must be carried out at a qualitatively new technological level," he added. President’s instructions Russia must strengthen its sovereignty and increase efficiency "both in defense and security, and, of course, in the socio-economic sphere." The use of modern technologies must be dramatically increased in medicine, education, culture, and other areas of the social sphere: "Here, efforts must be dramatically increased, not just on paper, but in real practice: in the work of clinics and hospitals, schools and universities, cultural institutions, sports, and so on." Electronic assessments of social institutions must be implemented throughout Russia as soon as possible: "Currently, this service operates in 30 regions. I urge all federal subjects to launch electronic assessments of social institutions as soon as possible and synchronize them with the development of digital platforms so that citizens can easily access this service, for example, from mobile devices." United Russia proposed additional support for regional budgets, "postponing the repayment deadline for budget loans beyond 2030." Additional 100 billion rubles ($1.2 bln) have been allocated to Russian regions facing the most challenging budgetary situations: "I propose making another important decision, namely, assisting those regions whose budgetary situation is objectively the most challenging. This year, they will receive at least another 100 billion rubles. Today, we will discuss when and by what principles these funds will be distributed." The Russian government should launch a new investment cycle to "give businesses additional opportunities to invest in the development of industry, agriculture, services, and housing construction.". 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