Fidelity bank banner Bayelsa State banner
Putin offers $8.6 billion to Russian families to have more babies

By Jake Rudnitsky, Olga Tanas on 30/11/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 3,213

•Russian President Vladimir Putin
•Russian President Vladimir Putin

Vladimir Putin has loosened Russia’s purse strings to expand a popular subsidy for families ahead of a presidential election in which he’s widely expected to seek a fourth term.

The government will spend 500 billion rubles ($8.6 billion) over three years on measures to encourage Russians to have more babies, including mortgage subsidies and payments to new and growing families, Deputy Prime Minister Olga Golodets told reporters Wednesday in Moscow. The money will come from government reserves and won’t require changes in the budget, Finance Minister Anton Siluanov told the upper house of parliament.

The welfare program’s being rolled out a day after Putin told officials at a Kremlin meeting that Russia must do more to support new parents and create “additional incentives for the birth of the second and third child” in families to counter a looming demographic crisis.

Putin’s sweetener to young Russians comes after the government has failed to raise pensions and other state benefits in line with inflation in recent years as spending has been cut amid the fall in oil prices and the longest recession this century. While he’s yet to declare his candidacy, Putin’s all but certain to seek re-election for another six years in March. The pitch to parents also seeks to counter a long-term demographic decline that may reduce Russia’s working-age population by 600,000 annually over the next six years.

Birth Rate

Russia suffered a decline in birth rates amid the chaos of the 1990s after the collapse of the Soviet Union. That’s feeding into a second slump now as the generation born then reaches its prime child-bearing years. Russia had 12.9 births per 1,000 people last year, the lowest since 2011, according to the Federal Statistics Service, which calculates the rate may plunge by a further quarter to just 9 births by 2035 in the most pessimistic circumstances.

“We must adopt a package of measures that will allow us to stabilize population numbers and prevent them from declining in the next decade,” Putin told the national children’s strategy meeting. “We must reset our demographic policy.”

From January, the government will introduce a monthly allowance for poorer families on the birth of a first child, which would continue for 18 months, Putin said. Over three years, the program will cost 144 billion rubles, he said.

A popular policy due to expire next year that provides 453,000 rubles in one-time payments to mothers who have a second baby and subsequent children should be extended until the end of 2021, Putin said.

Families that have a second or third child after January will also be eligible for a special mortgage program in which the government subsidises annual interest rates above six percent, he said. As many as 500,000 families may benefit over the next five years, Putin said.

Putin announced the new measures in a rambling speech that at one point touched on Friedrich Engels’ views on monogamy and the virtues of the tapeworm, which the president said is able to reproduce by itself because it has both male and female attributes. (Bloomberg)

Source News Express

Posted 30/11/2017 9:38:08 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Anambra Guber: Court clears Obiano of alleged double...

2015: Hope dims for Senator Lokpobiri as PDP...

Nigeria oil, gas provide investments in excess of...

SURE-P: Kolade bows to pressure, withdraws resignation letter...

Jail Break: 5 runaway prisoners back in the...

FG restates commitment to tackling violent extremism

Army rains bombs on Boko camps in Bauchi...

Sterling Bank boosts Osun’s C of O fast...

Lagos pastor arrested over hate speech

The Agenda, By Tola Adeniyi

Foreigners responsible for Southern Kaduna killings, El-Rufai insists...

Denmark, Finland, Norway, Sweden, Iceland approve teaching of...

 

Latest News 2019: All set for Atiku's declaration for president Court fines hospital N.5m for detaining baby’s corpse, parents UNN set to export ginger to USA 2019 election: 8 PDP governorship aspirants opt for consensus in Kaduna Violence, late arrival of election materials characterise Osun APC guber primaries Forex: CBN flags off sale of Chinese Yuan Gunmen storm Zamfara market; kill 2, injure others NAF fighter aircraft neutralises fleeing Boko Haram terrorists Ekiti: Group slams HURIWA over call for sack of INEC Chairman South African police officers to face trial for killing Nigerian FG, States, LGs share N668.898b for May Protection of human rights, cardinal objective of Buhari administration — Minister

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (363,153 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (359,006 views) Shameless Genevieve Nnaji exposes breasts in public (287,404 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (235,852 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (215,137 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,871 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (186,949 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (168,888 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,522 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (153,185 views) Lagos plane crash: Journalist releases victims’ names (147,962 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (139,123 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,363) Business Verdict (46) Columnists (889) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (616) Global Business Monitor (286) International (2,148) Interview (157) Live Commentary (28) Love Matters (127) News (37,318) Opinion (1,024) Pidgin (10) Politics (5,626) Religion (787) Sports (1,612) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Nigerian detainees send SOS from Osama prison

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement