Europe

Tried and Tested: Who are Putin’s New Major Ministers?

 / Go to the mediabankRussian Prime Minister Mikhail Mishustin speaks in parliament on March 23, 2023 / Go to the mediabank

Russian President Vladimir Putin has selected the most experienced and effective officials to navigate the country’s economy amidst global geopolitical shifts and the emergence of a new multipolar environment.Following Russian President Vladimir Putin’s May 7 inauguration, a new government has to be formed according to Constitutional amendments of 2020. A new Russian prime minister and other civilian ministers have to be approved by the State Duma, the lower chamber of the Federal Assembly of Russia, whereas the upper chamber – the Federation Council – holds discussions on the appointment of the heads of the Ministry of Defense, Internal Affairs, Emergency Situations, and Foreign Affairs, as well as the Accounts Chamber.© SputnikMishustinMishustin

Mikhail Mishustin: Technocrat and Crisis Manager

On May 10, Putin nominated Mikhail Mishustin for another tenure as the country’s prime minister, a proposal that was approved by the State Duma. Putin emphasized that the Mishustin cabinet has proven to be efficient amid Western sanctions pressure and the ongoing special military operation in Ukraine.Mishustin assumed office in January 2020 at the start of the economic crisis associated with the COVID-19 pandemic. In February 2022, he was tasked with stabilizing the economy in the face of the West’s hybrid war against Russia.AnalysisRussian Economy Overtakes Germany, UK and France Despite Western Sanctions10 August 2023, 17:52 GMTThe prime minister managed to steer the economy towards sustainable growth: between 2020 and 2023, Russia’s gross domestic product (GDP) grew by 4.7%, despite turbulence in foreign trade and a radical restructuring of the entire export strategy.Mishustin was born on March 3, 1966, in Moscow. He graduated from the Moscow Machine Tool Institute with a degree in computer-aided design systems in 1989 and completed post-graduate studies in 1992. He continued his education well into his working life, earning a doctorate of economics in 2010.The newly appointed PM is no novice when it comes to crisis management. During the Russian financial crisis of August 1998 in which the nation suffered a default, Mishustin became deputy head of the Russian Tax Service, improving what at the time was a catastrophic rate of non-payment of taxes among Russia’s business elites.Under Mishustin’s leadership over the past two years, the Russian economy has embarked on a path of re-industrialization and strengthened economic ties with the BRICS bloc and the Global South, moving away from the West.EconomyRussian Economy Expected to Grow Above 2% in 20241 March, 11:54 GMT

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