Putin says Russian economy currently on rise

MOSCOW, Nov 1 (PRIME) -- The Russian economy is currently on the rise, President Vladimir Putin said Thursday at a meeting with representatives of the German business.

“I will note that the Russian economy is currently on the rise. In January–September of this year, growth of industrial production amounted to 3%,” Putin said.

The macroeconomic situation in Russia is stable thanks to a low level of the foreign debt and growing reserves of the central bank and the government, he said.

Foreign investors in Russia are operating in conditions of an open market, without any restrictions of money and capital flow, which creates “very good, favorable conditions for the further development of business operations in Russia.”

Russia climbed to the 31 position in World Bank and International Finance Corporation’s Doing Business-2019 rating from 35 for 2018 allows the business to feel more stable, Putin also said.

He also said separately that Russia’s agricultural exports currently exceed exports of military products by U.S. $5 billion.

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