Putin expects a gradual lifting of the Russian economy, despite the decline in GDP by 3.8% in 2015.

SOCHI, January 11. The President of Russia Vladimir Putin expects a gradual lifting of the Russian economy, despite a GDP fall of 3.8% last year. He said this in an interview with German newspaper Bild.

“We believe that we will gradually go still to stabilize and lift the economy,” the President said. He noted that “we have now observed a decline in GDP by 3.8%, industrial production by 3.3%, inflation rose to 12.7 per cent.”

At the same time, according to him, the positive balance of foreign trade, “and for the first time in many years, significantly increased the volume of export of products with high added value”. “This is certainly a positive process in the economy,” he said.

Putin added that the Russian economy is the high level of reserves. “The Central Bank has about $340 billion in foreign reserves, now may be wrong, but for $300 billion And two government reserve Fund, about $70-80 billion each, one 70, the other 80”, – he reminded.

According to the latest macroeconomic monitoring and the MAYOR to Rosstat, the GDP decline for 11 months in 2015 of 3.8%, a fall of industrial production – by 3.3%. The head of the Ministry Alexei Ulyukayev said that year-end this figure could amount to 3.7-3.8%, and industrial production falling from 3.3 to 3.4%. Official data on the results of the economy in 2015, the MAYOR has not yet been published.

Rosstat 31 December announced a preliminary estimate of inflation in Russia in 2015 – it was 12.9%, which is within the previously announced forecasts by the MAYOR (13%), CBR (12,8-13%) and Finance (just over 13%).

Final data on the consumer price index in December and throughout the past year, the Rosstat provides 12 January 2016.