Socio economy Russia

Distinguished participants, friends

I am honored to have the opportunity to make my presentation at this event.
Unfortunately, I will not present my native country Azerbaijan but Russian
Federation.
Russia is the world’s largest country. It extends across the third of the Eastern
Europe and the whole of Northern Asia.
Russia is the country with the multitude of geographic and climatic zones,
incorporating a great range of environments and landforms, from deserts to
semiarid steppes to deep forests and Arctic tundra.
Russia is known for its reach oil and gas resources and its economic performance
has been mainly fuelled by oil and gas revenues and it may not be sustainable in
the long term.
One on the main problem is socio-economic inequalities. Disparities between
regions are evident and even increasing. Reducing inequality is one of the common
points of the Russian socio-economic agenda and is often tied in with the goal of
poverty reduction.

Inflation is on the rise as Russia copes with high demand, rising commodity prices
and supply bottlenecks.

The main challenge of Russia for the future is how to redistribute the oil wealth for
a long-term sustainable and more balanced development.
Global Problem
In our changing and conflicted world, the COVID-19 pandemic followed by the
global economic crisis are posing enormous challenges for the entire world.
The pandemic increased the already growing need to be more united and strategic
in foreign and development policies.
Global activity is now moderating after a strong recovery from the pandemic-
induced recession. Following a sharp rebound in the second half of 2020, the pace
of global growth eased in the first half of 2021, held back by renewed COVID-19
outbreaks. Growth in trade has lost momentum amid easing of global economic
activity and persistent supply bottlenecks.
Global response shall be focused on three priority areas: responding to the
immediate health crisis and humanitarian needs, strengthening health, water and
sanitation systems, and mitigating the immediate socio-economic consequences of
the crisis.

All around the world the countries shall implement various measures to tackle the
COVID-19 pandemic and its social and economic consequences, primarily to

 protect employment and mitigate loss of income

 support businesses facing high risks of disruption with special focus on
Small and Medium Enterprises (SMEs)
 reduce the impact of the crisis on people and especially the most vulnerable
groups (children, elderly and unemployed, people with disabilities, refugees
and IDPs)
 strengthen resilience of the public health system

Global cooperation and solidarity are our only chance to defeat the virus
everywhere, but also to ensure a sustainable global recovery.
We have to enhance coordination and coherence and leverage the collective
resources for sustainable impact.
More creative ways are necessary to respond to the greater pressure for recognition
of a collective approach.
Unfortunately, in view of Russian aggression against Ukraine it would be a
challenge for Russia to by fully involved in the global response at the moment.
However in the long-term perspective there is an opportunity for economic and
humanitarian cooperation of Russia with other countries worldwide, similar like it
happened with Germany after the 2nd World War.

The working better together agenda to overcome

long-standing challenges