• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Putin’s plan to overhaul Russian economy will cost $391 billion

|

Moscow, Feb 12: Russian President Vladimir Putin has always aimed to make his country great again, just like his American counterpart Donald Trump.

And though the former KGB agent hasn't started a formal slogan like the latter, his country has decided to spend 25.7 trillion rubles ($391 billion) to meet his promises made to overhaul the Russian economy by the end of his current and final term in office, the Moscow Times cited a new government estimate as saying.

Putin’s plan to overhaul Russian economy will cost $391 billion

Putin is serving in his current presidency since May 2018.

Russia reveals detention of US 'spy' a day after Putin sends goodwill message to Trump

The 66-year-old Putin had laid down plans to spend at least eight trillion rubles on his country's infrastructure and social issues till 2024 when the term ends.

Some of the goals that he eyes in his 17-point executive order called the "May Decrees" include reducing poverty by half and making Russia into one of the world's top five economies.

Healthcare, education and infrastructure are the sectors that he eyes heavy investment in.

"The 13 national projects created to accomplish the president's goals will cost 25.7 trillion rubles over the next six years, according to a plan published on the government's website on Monday," the Moscow Times report said.

It was also learnt that non-energy infrastructure will form the most expensive project of the entire plan, costing a whopping 6.4 trillion rubles. The other plans include roads (4.8 trillion), ecology (4 trillion) and demography (3.1 trillion).

Putin says Russian 'open to dialogue' New Year message to Trump; pledges support to Syria too

Regarding the budget allocation for the jumbo plan, it was said while 13.1 trillion rubles will be received from federal budget, nearly five trillion will come from regional budgets while 7.5 trillion will be met from "extra-budgetary sources", the report added.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more