President Putin signs executive order to try to keep Russian economy afloat
MOSCOW – NEWS – President Vladimir Putin signed an executive decree On measures to ensure socio-economic stability and protection of the population in the Russian Federation.
The presidential decree is a response to massive sanctions imposed by Western countries and global corporations to end trade relations with Russia over President Putin’s war on Ukraine.
The Russian government has also passed legislation cracking down on protests against the war.
The Kremlin, in a press release, said the new law is “to ensure socio-economic stability and protect the population, including with regard to political, economic and other sanctions imposed on the Russian Federation. , Russian natural or legal persons and/or cancellation of business by employers, the President instructed senior officials of constituent entities of Russia to take comprehensive measures to ensure socio-economic stability on the basis of particularities geography of the respective territories.
The Kremlin says the measures include targeted support for various categories of citizens facing difficult circumstances; maintain available social services; ensure the uninterrupted operation of life support facilities, transportation, supply and social infrastructure, educational, public health and social service facilities, energy, industrial and communications facilities; day-to-day monitoring of retail prices of essential goods, medicines and medical goods and their availability at retail; monitoring of the labor market and implementation of proactive measures to support employment (including retraining and upgrading courses).
This level of action by the Kremlin and President Putin is probably the first official indication of the impact of the sanctions against Russia.
The Russian ruble has fallen in recent weeks and there are serious economic concerns that the Russian economy could end up in a deep recession or depression if the sanctions are maintained.
According to Moscow, “In addition, the decree provides for measures to meet and eliminate the increased demand for certain types of goods, works and services; provide support to organizations, individual entrepreneurs and the self-employed, including targeted support in the form of monetary funds and other goods, or other exemptions and concessions; support for non-profit organizations with a social purpose that engage in providing social services, social support and protection, assistance to refugees and internally displaced persons, or activities related to the patriotic education and the encouragement of internal labor migration.
“The decree also provides for the adoption of other measures aimed at ensuring socio-economic stability and the protection of the people, including those provided for by federal law On the protection of the population and territories against natural and man-made disasters of December 21, 1994.