Putin called “modest” Russia’s efforts to rebuild the economy – RBC

Russia’s President Vladimir Putin

Photo: Alexei Druzhinin / AP

Russia’s President Vladimir Putin, speaking at the G20 summit, praised the efforts to rebuild the country’s economy as “insufficient” and “modest.” Nevertheless, Russia’s economy is “still has stabilized,” said the president

At the opening session of the G20 summit in the Chinese Hangzhou, Russian President Vladimir Putin noted that, while many world leaders point to problems, “today observed, though slow, but positive economic recovery »

« As for Russia in our country, we appreciate our efforts as insufficient, modest “, -. Putin said, adding that the Russian economy” is still stabilized “(quoted by” Interfax »).

The president said that the country’s reserves and remained significantly reduced the outflow of capital. “Compared to last year the capital outflow was reduced five times. Reduced inflation twice. The budget deficit – 2.6%. Unemployment we keep at a low level – 5.7%. External debt is maintained at a low level – only 12 percent a year, “- said Putin

The president also stressed that Russia registers a small increase in industrial production and other indicators and plans to” continue to reduce the budget deficit, to continue. efforts to reduce the budget revenues from the “export of hydrocarbons. “Continue balanced policy to ensure macroeconomic stability. Extend and implement improvements in the business climate, “- concluded Mr. Putin

Earlier, on 2 September, the head of the Ministry of Economic Development of Russia Alexei Ulyukayev stated in an interview with RBC TV that the Russian economy has moved from recession to stagnation.. Thus he commented on the report of the expert of the Higher School of Economics, which stated that the Russian economy is “stuck at the bottom.” with expert conclusions Ulyukayev agreed.

«I almost never agree, but it agrees with them. We have moved from recession to stagnation. I do not like this game in terms, but nevertheless, if you use them, then this is exactly the situation – that is, the period of low growth “, – said the head of the Ministry of Economic Development.