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| Putin plan: Russia to halve poverty, join world’s five biggest economies, increase life expectancy | Putin plan: Russia to halve poverty, join world’s five biggest economies, increase life expectancy |
| (35 minutes later) | |
| Vladimir Putin unveiled an ambitious vision for Russia for his new six-year term - including rapid economic growth, a rise in life expectancy, and a drop in inequality - hours after his inauguration. | Vladimir Putin unveiled an ambitious vision for Russia for his new six-year term - including rapid economic growth, a rise in life expectancy, and a drop in inequality - hours after his inauguration. |
| Titled “National ideas and strategic aims for the development of the Russian Federation by 2024” the 17-point decree, “in force as of today,” touches on dozens of areas from mortgages, to road safety, and the creation of a national youth orchestra. Here are the highlights... | Titled “National ideas and strategic aims for the development of the Russian Federation by 2024” the 17-point decree, “in force as of today,” touches on dozens of areas from mortgages, to road safety, and the creation of a national youth orchestra. Here are the highlights... |
| Joining the big five | Joining the big five |
| According to the document, Russia is to become one of the world’s five biggest economies, maintaining GDP growth above the global average, while retaining macroeconomic stability. | According to the document, Russia is to become one of the world’s five biggest economies, maintaining GDP growth above the global average, while retaining macroeconomic stability. |
| READ MORE: Russia needs to become less oil-dependent in next 6 years – Putin | |
| Measured by nominal GDP, Russia is outside the top 10 biggest economies, and would have to produce near double-digit growth to catch up in the next six years. However, using purchasing power parity GDP, which is a better measure of the real value of the economy, Russia sits in sixth place, just behind Germany, so the target is not unrealistic. | Measured by nominal GDP, Russia is outside the top 10 biggest economies, and would have to produce near double-digit growth to catch up in the next six years. However, using purchasing power parity GDP, which is a better measure of the real value of the economy, Russia sits in sixth place, just behind Germany, so the target is not unrealistic. |
| Outpacing world GDP growth will be a harder task. The world economy grew by 3.5 percent last year, while Russia’s expanded by 1.5 and is expected to trend under the global average again this year. | Outpacing world GDP growth will be a harder task. The world economy grew by 3.5 percent last year, while Russia’s expanded by 1.5 and is expected to trend under the global average again this year. |
| Increasing life expectancy to 78 | Increasing life expectancy to 78 |
| According to last year’s stats, Russians’ life expectancy hit an all-time high in 2017, reaching nearly 73. Female life expectancy is already over 78, a respectable number for a country of Russia’s economic means. Achieving the new target will require reducing one of the greatest gender mortality disparities in the world, which sees the country’s men die, on average, a decade younger than the women. | According to last year’s stats, Russians’ life expectancy hit an all-time high in 2017, reaching nearly 73. Female life expectancy is already over 78, a respectable number for a country of Russia’s economic means. Achieving the new target will require reducing one of the greatest gender mortality disparities in the world, which sees the country’s men die, on average, a decade younger than the women. |
| Ensuring 'steady population growth' | Ensuring 'steady population growth' |
| Russia’s population has rebounded from its 2009 low of fewer than 142 million to nearly 147 million last year, partly thanks to the addition of 2 million Crimean residents. | Russia’s population has rebounded from its 2009 low of fewer than 142 million to nearly 147 million last year, partly thanks to the addition of 2 million Crimean residents. |
| The target will involve boosting the birth rate to 1.7 – a number exceeded just two years ago – through financial incentives for new parents, better health provision, and better employment prospects for working mothers. | The target will involve boosting the birth rate to 1.7 – a number exceeded just two years ago – through financial incentives for new parents, better health provision, and better employment prospects for working mothers. |
| As with the previous aim, the other part of this objective will come through reducing mortality, not least through encouraging Russians to live a healthier, more active lifestyle. | As with the previous aim, the other part of this objective will come through reducing mortality, not least through encouraging Russians to live a healthier, more active lifestyle. |
| DETAILS TO FOLLOW | DETAILS TO FOLLOW |