Putin arrives in Finland to hold talks with Sauli NiinistoRussian Politics & Diplomacy July 01, 15:48
Moscow urges Russians to consider terror risks in Turkey trips planningRussian Politics & Diplomacy July 01, 15:34
Russia’s Reserve Fund declined 3.7% in June, NWF down 3% — finance ministryBusiness & Economy July 01, 15:16
Moscow notes need for cooperation with Germany in combating terrorismRussian Politics & Diplomacy July 01, 15:08
Slovakia ready to hold debate on anti-Russian sanctions — ambassadorWorld July 01, 15:03
Russia urges Latvia, Estonia to heed UN criticism of citizenship deprivation practicesRussian Politics & Diplomacy July 01, 15:01
Russian Defense Ministry aviation sent to search for missing Il-76 planeSociety & Culture July 01, 14:42
Militia say Kiev forces redeployed 40 tanks to town near LuganskWorld July 01, 14:35
Russian, Turkish foreign ministers agree on intergovernmental contactsRussian Politics & Diplomacy July 01, 14:33
MOSCOW, January 26. /TASS/. Russia has conditions for the economic recovery to start already this year, Russian President Vladimir Putin said on Tuesday at the meeting with the Economic Development Minister Alexey Ulyukayev.
"Combination of the budget deficit lower than expected, availability of good reserves, and low debt level — all that creates favorable conditions to expect the situation will improve this year," Putin said.
Reserves of the Bank of Russia remain high, the minister said in his turn. "This created the macroeconomic stability situation properly assessed by all market participants," Ulyukayev said.
The deepest part of the recession lasted by the end of the second quarter in the last year and positive developments appeared thereafter, Ulyukayev added.
"A sound base was laid indeed and we need to prudently manage it. It seems to me we may be cautiously optimistic at the beginning of the year," Ulyukayev said.
Positive surplus of the trade balance was about $145 bln at 2015 year-end, slightly smaller than in prior years because of the exchange rate changes, the minister said. "Physical volumes did not decline," he added.
"The balance of the current account of the payment balance slightly grew and turned to be even better than in our outlooks. This is because the services account declined significantly. Broadly speaking, our citizens stopped leaving their money in Turkey, Egypt, and certain other countries and started spending them in Sochi, Crimea, and other Russian regions," Ulyukaev said.