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Vladimir Putin describes economic climate in Russia

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Vladimir Putin describes economic climate in Russia

Russia’s macroeconomic indicators have improved, said Russian President, Vladimir Putin, answering the question of a journalist at the 12th annual press conference held on Friday in Moscow.

Putin said that inflation in 2016 amounted to 5.5 percent. According to him, this is a record low. The budget deficit last year was 2.6 percent, this year the figure will amount to 3.7 percent. The head of the state noted that that was “an absolutely acceptable figure”.

Russia’s gold and foreign currency reserves of the Central Bank have risen slightly – up to 385 billion dollars, he added.

Vladimir Putin also indicated that there was the revival of industry and a decrease in capital outflows.

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