"In our country, active efforts are being made to improve macroeconomic stability. Russian GDP increased 1.4 percent last year, inflation indicators slowed to record values. Last year, the [price] increase was 2.5 percent and it continues to slow down this year," Putin said late Wednesday.
Russia faced an economic setback after the United States and the European Union imposed sanctions against Moscow in 2014 following the escalation of the Ukrainian crisis and Crimea's unification with Russia. However, the Russian economy ultimately has started to show signs of recovery after a number of economic reforms were introduced.