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Putin said that the authorities managed to keep Russia from slipping into a recession

Путин заявил, что властям удалось удержать Россию от сползания в рецессию

Russian President Vladimir Putin believes that Russia managed to save from the recession thanks to the skillful actions of the authorities. He stated this at the closing ceremony of the business forum of the BRICS.

“In Russia many years we have adopted a balanced macroeconomic policy, a responsible attitude to public finances, support the stability of the banking and credit markets, seek to strengthen key sectors of the economy, — quotes the Russian President TASS. — Because of this we managed to keep the economy from sliding into recession.”

However, he clarified that he does not consider the current rate of GDP growth is sufficient.

 

We will remind, as of today Rosstat said that Russia’s GDP in the third quarter of 2019 rose 1.7% in annual terms. The economy has accelerated almost doubled in the second quarter, GDP grew by 0.9%.

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