RUSSIA, April 14 - Mikhail Mishustin took part in the joint Ministry of Economic Development and Ministry of Finance board meeting.

Excerpts from the transcript:

Mikhail Mishustin: Mr Siluanov, Mr Reshetnikov, colleagues.

Today we will review last year’s performance of the most important, key ministries: the Ministry of Finance and the Ministry of Economic Development. We will also discuss the goals that we need to address in the near future.

This is our first time meeting in this format. In the past three years, we have had to make a lot of operational, even emergency decisions. First, to support people and businesses during the pandemic, then to adapt the economy and citizens of Russia to the consequences of the unprecedented sanctions pressure from the West.

 Most experts believe that we have done well with the main challenges. As I said in my report to the State Duma, the inevitable recession was moderate last year. Starting from the second half of the year, we managed to gradually return the economy to a growth trajectory. As a result, the gross domestic product even exceeded the 2019 level.

Our results are also recognised by foreign analysts. For example, the International Monetary Fund has recently improved its forecast for Russia again.

I would like to take this opportunity to thank all those present in this hall and our colleagues in the field for your hard work. Many decisions were made almost in real time. The preparation of documents took only a few days, and sometimes even hours. This made it possible for our financial system and economy to survive and continue to develop. This is the great achievement of your ministries.

More to be posted soon.