IMPROVING LIVING STANDARDS

"Well-being of people and comfortable incomes for Russian families are key development factors. This is where we need to make a decisive breakthrough," Putin told lawmakers from the Federation Council and the State Duma.

Putin said some 20 million Russians, or about 14 percent of the population, are living below the poverty line, which is "unacceptably high."

Putin attributed the difficulties to the economic crisis and promised to create jobs with decent incomes to "at least halve the poverty level in six years."

He said Russia will channel at least 3.4 trillion rubles (about 60 billion US dollars) for the next six years to support mothers and their children, among other demographic groups.

The president said it is necessary to allocate at least 4 percent of the country's GDP from 2019 to 2024 to improve people's health. He says every Russian should have the opportunity to undergo a preventive examination once a year.

Putin also aims to boost economic growth to above the world average in the coming years after Russia was significantly hit by weak global energy prices.