Putin: Russian Gold and Foreign Currency Reserves Grow

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Putin said that gold and foreign currency reserves grow while the government's Reserve Fund remains at a high level.

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MOSCOW (Sputnik) — There is ground to believe that the situation in the Russian economy will be stable, Russian President Vladimir Putin said Sunday.

According to the Russian leader, the government and the Central Bank of Russia are working in close coordination with each other.

"All this gives grounds to believe that the situation in the Russian economy will be stable and, despite the well-known decline in domestic demand, we will work hard to make it rise and become an essential factor in ensuring high rates of economic development," Putin said at a meeting with Pirelli CEO Marco Tronchetti Provera.

He added that Russia will continue to diversify the economy as the current situation encourages it.

"Russia's economy will maintain a good development potential," Putin stressed.

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