President Vladimir Putin announced measures on Wednesday to boost Russia's ...
MOSCOW - President Vladimir Putin announced measures on Wednesday to boost Russia’s birth rate, describing them as vital to the country’s future though they are projected to cost at least $6.5 billion this year alone.
“Our historic duty is to respond to this challenge,” Putin said in a televised state-of-the nation address to Russia’s political elite. Previous attempts to improve the situation have been unsuccessful, causing concern among economists about what the impact of having a smaller workforce will be on the economy.
The economy ministry sees total additional costs rising to over 600 billion rubles a year from 2022, but it and the finance ministry do not expect an impact on inflation.
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