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Putin Calls for Personal Responsibility for Gov't, Central Bank Officials

© REUTERS / Maxim ZmeyevRussian President Vladimir Putin speaks during his annual end-of-year news conference in Moscow.
Russian President Vladimir Putin speaks during his annual end-of-year news conference in Moscow. - Sputnik International
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Government and Central Bank officials should be personally accountable for the economic situation in the country, President Putin said commenting on the current economic slowdown.

Russian President Vladimir Putin held the tenth annual press conference. The president talked about several important issues, including Ukraine, the fall of ruble, economic problems and relations with the West. - Sputnik International
Russia
Highlights of Putin's Big Annual Press Conference 2014
MOSCOW, December 18 (Sputnik) – Government and Central Bank officials need to take personal responsibility for their work, Russian President Vladimir Putin said Thursday.

"On the whole, there should be a certain degree of personal responsibility of Central Bank and government officials for results in areas entrusted to them," the Russian leader said during a televised news conference.

"I think that government and financial administrative structures are generally successful in coping with the tasks and problems that the country faces," he said.

On Monday, the Russian central bank raised interest rates from 10.5 to 17 percent to stave off the worst collapse of the ruble since the 1998 Russian financial crisis.

The rate increase failed to prevent the ruble from falling further against the dollar on Tuesday.

Tenth annual major news conference of Russian President Vladimir Putin - Sputnik International
Russia
Putin: Central Bank Key Rate Increased to Sustain Macro-Economic Stability
Russia is currently experiencing an economic slowdown and a rapid depreciation of the ruble amid a dramatic decline in oil prices, which accounts for a significant part of the Russian budget's revenues.

A number of senior Russian officials say another reason for the economic downturn is Western sanctions imposed against Moscow over its alleged involvement in the Ukrainian crisis.

According to Putin, the Russian economy will eventually recover from the downturn over the next few years. The Russian leader suggested that the situation may begin to improve in the first quarter of 2015.

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