Delyagin on Putin's "high-wage economy": The budget is not for giving away

State Duma deputy economist Mikhail Delyagin told what tools the "economy of high salaries", which President Vladimir Putin spoke about at the WEF plenary session, will work with.

According to Delyagin, the problem can be solved only through the comprehensive modernization of the country.

"The budget is not to give money to everyone, but for breakthrough areas, support for the population and basic areas. To ensure normal salaries, it is necessary to limit monopolies, introduce protectionism and make loans available," the MP said on Sputnik radio.

Speaking at the Eastern Economic Forum in Vladivostok, Russian President Vladimir Putin confirmed that the Russian economy "should become a high-wage economy." The Head of State also confirmed that in the period from 2014 to 2024, the poverty rate in the country has decreased from 11.3% to 7.2%.