Putin called the peak of the crisis in Russia passed

Moscow. October 22. The President of Russia Vladimir Putin called the reasonable opinion that the peak of the economic crisis in Russia is passed. He stated this at the meeting of the discussion club “Valdai”.

According to him, the inflation by the end of 2015 will amount to 11.9-12%, and then begin to decline.

In this situation, as Putin said, you need to focus on solving some of the problems, including “support for specially affected industries include construction, machinery manufacturing, automotive industry, some high-tech industries and construction”.

One of the challenges, he said that the Russian authorities decide to overcome the crisis and the work carried out by the Central Bank is the stabilization of the national currency.

“This is also one of the indicators that gives us the right to say that it was some stabilization. The rate of the national currency has a certain market fluctuations associated with oil price, but also stabilised,” he said.

Putin said that the difficulties in the domestic economy has less to do with sanctions as with the fall in energy prices.

“The entire global economy is experiencing problems. The Russian economy is experiencing several problems at once, goes through several problems and trials. They are associated not only with restrictions, it is often said that political restrictions in the field of Economics, so-called sanctions, they play a role. But, of course, is not decisive. The most important factor limiting growth, the slowdown in economic growth, of course, is the falling prices for traditional export commodities,” – said Putin.