Russian President Vladimir Putin delivers the annual state-of-the-nation speech in Moscow on January 15, 2020. (Photo: AFP/VNA)

He said Russia has entered a very difficult demographic period. Its birthrate last year was 1.5. He stressed the need for Russia to overcome the demographic trap, ensure population growth, develop kindergartens, and support families. Putin promised to increase wages for teachers and the budget for universities. He set a target of annual investment growth of 5% to ensure that Russia’s GDP growth rate will be higher than the global average in 2021. Russia will invest in future-shaping technology to create breakthroughs in development, Putin said.

Regarding Russia’s foreign relations, President Putin said Russia is ready to cooperate with all partners. He added that Russia’s defense capability is adequate for decades into the future, but Russia will continue to research new weapons and defense systems.