World Economy

Russia Overcomes Recession

Russia Overcomes RecessionRussia Overcomes Recession

The national economy is growing and creating a base for future national development, Russian President Vladimir Putin said on Thursday, Tass reported. “While GDP rose by 0.5% in the first quarter, economy growth rate was 2.5% already in the second quarter and investments rose by 6.3%,” the president said. “This has become the highest value from the second quarter of 2012. This is definitely a good foundation for future development,” Putin said. The economic growth rate was 2.5% in Q2, he added. Inflation in Russia is at an all-time low level below 4%, Putin said. Industrial output rose by almost 2%. “Despite the known restrictions, including external ones, the Russian economy is stabilizing,” he said. “Clearly it has overcome the recession and picks up steam.” It is important to keep positive trends in the national economy against a threat of preserved and toughened external restrictions, the president said.

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