Moscow Mayor Yuri Luzhkov said on Saturday the social-economic situation in the Russian capital is stable and unemployment has dropped to less than 1%.
"The social-economic situation in the city is stable. This year fiscal revenue has improved. Last year the unemployment level was no higher than 0.98%," Luzhkov said in a meeting with Prime Minister Vladimir Putin.
The Mayor said the level of unemployment began to rise at the end of January but was lowered by joint efforts by the city authorities and the Ministry of Economic Development and Trade.
He said the Moscow authorities were talking about subsidizing interest rates on loans for small to medium sized business enterprises to encourage more business start-ups.
Luzhkov said efforts were also being made to improve social support to the city's elderly.
"We are coping well with the issue of social support...no pensioner is receiving less that 10,285 rubles ($389) a month," Luzhkov said.
MOSCOW, May 15 (RIA Novosti)
