Putin says Russia will rebound after economic crisis

2014-12-18 12:41

Moscow – Russia’s President Vladimir Putin held his annual end-of-year news conference today.

Below are extracts of the news conference:

Economy

“Clearly the current situation is caused mainly by external factors.

“External economic factors are having an impact, mainly the price of oil and gas. I think the central bank and the government are taking adequate measures.

“If the situation develops unfavourably, we will have to amend our plans. Beyond a doubt, we will have to cut some [spending]. But a positive turn and an exit from the current situation are unavoidable.

“The growth of the global economy will continue and our economy will rebound from the current situation.

“Under the most unfavourable external economic scenario, this situation may go on for about two years. But it may also start improving in the first quarter, in the middle, at the end of the next year.”

“One way or another the economy will adapt to living and working with low energy prices.”

Budget

“It’s certain that the budget will have a surplus.”

Central bank and rates

“I think some actions could have been taken more swiftly.

“I hope the main interest rate will not remain [at its current level] throughout these difficult times which are related to external economic conditions.

“Surely, one can give a hard time to [central bank chief] Elvira Nabiullina, but one should remember that, in general, their policies are adequate. The central bank is not the only one to be held responsible for the current situation in the country.”

Exporters

“We should work with exporters who have considerably large foreign currency revenues.”

Government

“The government should also be taking measures ... Petrol prices, food prices, we should deal with that.”

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.