As of: March 1, 2024, 11:17 a.m
By: Bona Hyun
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Press
Split
At the state of the nation speech, Putin also spoke about the economic situation - and assured there is a chance of improvement.
But does he stick to his words?
Moscow – President Vladimir Putin likes to make threats against the West – as he did in his State of the Union speech.
The Russian president also used the opportunity to justify the Ukraine war, which he calls a “special military operation.”
He also made election promises to citizens a few weeks before the presidential election.
Above all, he wants to help large families in precarious situations and increase the minimum wage.
But reality is already catching up with him.
Putin also talks about the economy in his speech - promises only for the election campaign?
At
fr.de
's request , an expert classifies Putin's promises.
“In my opinion, Putin's announcements should be placed primarily in the context of the upcoming presidential elections.
"For Putin, the main thing here is to show that he cares about the concerns of the 'normal' Russian population," said Russia expert Sebastian Hoppe.
The presidential election in Russia is scheduled for March 15-17, 2024.
The Russian president dominates in current polls.
Vladimir Putin, President of Russia, gives his State of the Union speech in Moscow - and also talks about the economy.
© Alexander Zemlianichenko/dpa
Putin could therefore try to collect sympathy points for the election and show empathy for the citizens' situation.
In his speech, he promised higher tax allowances for children and regional social programs that would be supported by the federal budget as measures to support families.
The minimum wage should rise from 19,000 rubles (190 euros) per month to 35,000 rubles (350 euros) by 2030.
Russia's economy is suffering - but Putin could plan for additional spending: "More willing to go into debt"
“Since the start of the war, the Russian financial elite seems more willing to take on debt.
In this context, additional expenditure – as long as it comes in rubles – is also conceivable and possible.
“Russia still has a very low level of debt, which definitely leaves room for maneuver,” says expert Hoppe.
The Russian economy is facing some problems.
Russia recently presented positive economic data - according to which economic growth rose by 3.6 percent in 2023 despite sanctions compared to 2022. But high inflation, labor shortages, dependence on war and the impact of sanctions raise doubts about the good figures Putin could cover up the economy's problems.
Economists are already expecting catastrophic consequences, as a “war economy” will not be sustainable in the long term – and see the Russian economy in an “early stage” of decline.
Nevertheless, Putin wants to plan significantly more military spending for 2024.
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Expert sees “development of the Soviet Union”
According to Hoppe, the current economic situation will lead to a “development of the Soviet Union”.
“Heavy industry and military production were prioritized, while the service sectors and civilian production were neglected.
The promises made, if they are actually implemented, will not be able to stop this trend,” sums up Hoppe.
It is entirely conceivable that some social groups could be financially better off by the state in the future.
However, the promises would not be able to significantly improve the living standards of the general population.
“The current success stories are primarily due to the enormous growth of the military-industrial complex.
There have indeed been wage increases here, just like in the military itself.”
Concerned about the Russian economy?
Putin promises a chance for improvement
In addition, according to Hoppe, one should not forget that “national” projects in the past were only implemented in very fragmented ways or not at all.
“The likelihood is that the new measures will be the same,” says expert Hoppe from the Free University in Berlin.
It is Putin's 19th State of the Nation Address.
The President last gave the speech in February 2023 and declared the suspension of the New Start nuclear disarmament treaty.
In the first year of the war he skipped the State of the Union address.