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President of Russia Vladimir Putin: How are the things, Mr Sobyanin?

Moscow Mayor Sergei Sobyanin: I must say, Mr President, despite our enemies’ scheming and sanctions…

Vladimir Putin: We have more friends than we have enemies.

Sergei Sobyanin: I do not know about others, but for us, everything is going quite well.

Vladimir Putin: There is a famous saying, “It is equally honourable to be Russia’s friend or enemy.”

Sergei Sobyanin: Bless their hearts.

I think that Moscow’s 2023 performance results are among the best in recent history. We are witnessing significant growth across the key production indicators such as pharmaceuticals, car manufacturing, and microelectronics, with growth ranging from 25 to 40 percent. Investment in property, both commercial and residential, as well as housing construction, are on a continuous upward trajectory. Our renovation programme is also ongoing.

The projects we have launched with you, such as Moscow Metro’s Big Circle Line and the High-Speed Diameter, are operating efficiently. Currently, the Big Circle Line transports 1.3 million people daily, while the high-speed diameter accommodates 400,000 cars daily. In terms of economic impact, over a trillion rubles has been added to the federal budget and extra-budgetary funds with the start of the Big Circle Line, providing significant budgetary benefits.

Vladimir Putin: Since it started operating?

Sergei Sobyanin: No, since the construction started: while construction is in progress, the budget already benefits from VAT and taxes. The phased introduction of the Big Circle Line over several years has resulted in direct advantages.

The city budget is developing successfully, with investments showing varying trends in different years (shows a presentation). However, considering longer periods, such as from 2009 to 2011, our investment volume has surged from two trillion to 17 trillion, a 3.7-fold increase even in comparable prices. This includes investments in housing, buildings, machinery, purchased equipment, and intellectual property. The city demonstrates remarkable growth dynamics, thanks to your support, the Government, and, of course, the residents of Moscow, who are working actively and stay optimistic.

Vladimir Putin: We understand that the threats we are facing are not empty and we need to keep that in mind at all levels, the Government, federal and regional. Moscow is not just a region, it is the capital and the country’s scientific, educational, and industrial centre. Therefore, it is all connected with the economy of the entire country. And we need to constantly keep that in mind. Let us discuss all this in more detail.

Sergei Sobyanin: Absolutely, Mr President.

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