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| Vladimir Putin says Russia's economic crisis has peaked | |
| (35 minutes later) | |
| Russian President Vladimir Putin has said the country's economic crisis has peaked, as he holds his annual news conference in Moscow. | |
| While oil prices had fallen sharply, he said, manufacturing had shown slight growth and there was a healthy trade balance in agriculture. | |
| The news conference is one of the key events in Russia's political year. | |
| It comes in a year which saw post-Soviet Russia launch its first war outside Europe, in Syria. | |
| "Our economy depends on oil and gas prices, we expected Brent to be worth $100 dollars per barrel, but then it was 50, but this was an optimistic prediction too, our forecasts have to be amended again," Mr Putin said. | |
| "GDP is falling, inflation is 12.3%, incomes, investment are falling too but the peak of the economic crisis is over." | |
| Economic output was still falling, but Mr Putin predicted growth in the new year of 0.7%, rising to 1.9% in 2017 and 2.4% in 2018, based on oil at $50 a barrel. | |
| While low oil prices and Western sanctions over Ukraine have hit the economy, foreign debt is low and the private sector is proving resourceful, according to a recent overview in The Economist. | |
| Critics say civil liberties have been steadily eroded under Mr Putin, who is now into his third term as president since 2000. | Critics say civil liberties have been steadily eroded under Mr Putin, who is now into his third term as president since 2000. |
| He remains one of the world's most recognisable politicians, and has topped the list of The World's Most Powerful People compiled by Forbes magazine for the third year running. | He remains one of the world's most recognisable politicians, and has topped the list of The World's Most Powerful People compiled by Forbes magazine for the third year running. |
| 'Information war' | |
| Mr Putin is known for his marathon performances at his news conferences, where he frequently uses hard-hitting, colourful language. | |
| In an interview with state TV on Wednesday evening, Kremlin spokesman Dmitry Peskov said Russia was a target in a "big information war [which] has been waged for a long time". | In an interview with state TV on Wednesday evening, Kremlin spokesman Dmitry Peskov said Russia was a target in a "big information war [which] has been waged for a long time". |
| One of last year's news conference highlights was the bear metaphor Mr Putin used to describe how the West treats Russia. | One of last year's news conference highlights was the bear metaphor Mr Putin used to describe how the West treats Russia. |
| "Imagine the bear who guards his forest," he said. | "Imagine the bear who guards his forest," he said. |
| "Maybe the bear should just sit quietly, eating berries and honey rather than chasing piglets? Maybe then they would leave us alone? But no, they would still try to chain the bear, and take out his claws and fangs, so the bear could not do anything - he would just be a stuffed animal. Do we want our bear to be a stuffed animal? | "Maybe the bear should just sit quietly, eating berries and honey rather than chasing piglets? Maybe then they would leave us alone? But no, they would still try to chain the bear, and take out his claws and fangs, so the bear could not do anything - he would just be a stuffed animal. Do we want our bear to be a stuffed animal? |
| Last year, the event lasted three hours and 10 minutes, while the record was set in 2008 at four hours 40 minutes. | Last year, the event lasted three hours and 10 minutes, while the record was set in 2008 at four hours 40 minutes. |