Moscow, Jan 22 (AFP/APP): Russian President Vladimir Putin is promising to invest tens of trillions of rubles in the country’s dilapidated infrastructure and other sectors over the next five years in a bid to kickstart anaemic economic growth. Russia’s new Prime Minister Mikhail Mishustin, who was appointed by Putin last week, vowed to shift into a higher gear with these “national projects”. Unveiled at the start of 2018, the projects have more or less stalled. The Kremlin’s aim is to achieve annual gross domestic product growth of four percent, an ambitious goal alongside the World Bank’s forecasts of 1.6-1.8 percent for 2020-2021. Putin has earmarked 25.7 trillion rubles (375 billion euros or $414 billion) for investment in virtually all sectors — digitalisation, demographics, ecology, education, roads, culture and health — from now until the end of his current mandate in 2024. The bulk of the money will come from public coffers — including from a VAT increase last year — and about a third from private investment. Mishustin told ministers of his new government, approved by Putin on Tuesday, to submit proposals on implementing the national projects by February 20. – Infrastructure – Russia is the world’s biggest country by … Continue reading Putin’s ‘national projects’: billions to boost the economy