Putin says Russian econ stabilizes, cap outflow narrows 80%

HANGZHOU, China, Sep 5 (PRIME) – Russia’s economic situation has stabilized, state reserves have not been spent and capital flight has fallen by about 80% as compared with 2015, President Vladimir Putin told a G20 summit on September 4.

“As for Russia, we see our efforts as insufficient, too modest but our economy has stabilized nevertheless,” Putin said.

“We plan to continue reducing budget deficit; continue the work to reduce budget revenue dependence on hydrocarbon exports. To continue a well-thought policy to ensure macroeconomic stability. We will continue to improve business climate.”

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