UPDATE: Russia’s Putin says peak of economic crisis over

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MOSCOW, Dec 17 (PRIME) -- The Russian economy has overcome a peak of crisis, President Vladimir Putin said Thursday during an annual press conference.

“The statistics shows that the Russian economy has on the whole overcome the crisis. At least, the peak of crisis,” Putin said.

He said there were signs of stabilization of business activity starting from the second quarter of this year.

Industrial production growth of 0.2–0.1% was recorded in September–October, Putin said. In the country’s Far East, industrial output grew even 3.1%, he said.

Russia’s agricultural industry is demonstrating positive dynamics. Agricultural output will grow at least 3% in 2015, and grain harvest exceeds 100 million tonnes for the second consecutive year, he said.

Investors start showing interest in operations in Russia, Putin also said.

“We see a net capital inflow, which is also quite a positive thing…I’m sure and experts also say that investors, understanding conditions of our economy, start showing interest in operating here,” he said.

The situation on the labor market is stable as compared with 2008, with the unemployment level fluctuating at around 5.6%, Putin also said.

It is necessary to continue work to improve mechanisms of management of economy, Putin said.

Russia is fully fulfilling its liabilities to international credit organizations, despite the current restrictions, Putin also said. The foreign debt fell 13% as compared with 2014, a capital outflow has significantly fallen and even a capital inflow was registered in July–September, he said.

The government is also fulfilling all its social liabilities, including pension indexation, Putin said.

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