16:55 GMT +328 June 2017
Live
    Russian currency ruble on a graffiti in St. Petersburg

    Putin: Inflation Reaches 'Steady' Downward Trajectory in Russia

    © Sputnik/ Igor Russak
    Business
    Get short URL
    135864

    The Russian president said inflation has reached a steady downward trajectory and currently amounts to 4.4 percent year-on-year.

    MOSCOW (Sputnik) — Inflation in Russia has reached a steady downward trajectory as the government kept its focus on long-term development plans during instability, President Vladimir Putin said Thursday.

    "We reached the trajectory of a steady decline in inflation, which I consider extremely important. As of March 13, it was 4.4 percent year-on-year," Putin said at a Russian Union of Industrialists and Entrepreneurs session.

    He noted that growth rates are returning to positive values and industrial production, including manufacturing, is increasing.

    "During the period of economic instability, we did not lose sight of long-term development plans. Now that the period of economic adaptation to the new conditions is almost complete, these tasks are becoming key," Putin said.

    Russia has been hit by a downturn that began in early 2015 after falling oil prices and Western anti-Russia sanctions took bite. The country's GDP fell 3.7 percent in 2015, according to the Russian Federal Statistics Service Rosstat.

    Related:

    Serbia Hopes to Strengthen Economic Cooperation With Russia - Foreign Minister
    French Economy Minister Say Ties With Russia Remain Solid Despite Sanctions
    Armenian President Calls Russia Yerevan's Top Economic Partner
    Bern-Moscow Trade Shrinks Amid Russia Economic Situation, Not Sanctions
    Tags:
    inflation, Vladimir Putin, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment