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Vladimir Putin: Russia has reached the peak of the crisis

Russian President Vladimir Putin. Photo: kremlin.ru

Russia has reached the peak of the crisis, its economy has adjusted to the changing economic reality, Russian President Vladimir Putin has announced at the 7th Russia Calling! Investment Forum.

“It shows first signs of stabilization. Despite the fact that we are witnessing recession in many sectors of the economy apart from agriculture, the situation is getting more stable. Value-added industries are feeling much better now. In a situation when our economy is adjusting to lower commodities prices, in particular, hydrocarbons prices, it shows that new opportunities are opening for other sectors: machine-building, agriculture, value-added industries and so on,” the Russian president noted.

Despite all difficulties the Russian economy is facing now, the economy management team in Russia has shown a high level of responsibility, sustainability and achievement, Putin said.

“As for Russian investments, yes, we have fixed reduction in investments in capital assets, but we have managed to maintain a high level of investing, including investments from the federal budget. Last year, it was 1.5 trillion, this year it will be even more, but we are trying to pursue a flexible policy as regards to the Finance Ministry and the Central Bank,” Putin stressed.

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