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| Russian economy is stable – Putin | Russian economy is stable – Putin |
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| The head of state says he expects inflation to drop to 5% in the first quarter of the year | |
| The Russian economy is in better shape than previously expected, and is on course for further stabilization, Russian President Vladimir Putin said on Russia 1 TV channel on Sunday. | The Russian economy is in better shape than previously expected, and is on course for further stabilization, Russian President Vladimir Putin said on Russia 1 TV channel on Sunday. |
| According to the head of state, all major economic indicators point to a further stabilization of the country’s economy. | According to the head of state, all major economic indicators point to a further stabilization of the country’s economy. |
| “The situation in the economy is stable, moreover, it is much better than what not only our opponents, but even we ourselves predicted…One of the main indicators – unemployment – is at a historic low. Inflation is lower than expected and is displaying a downward trend,” Putin said. | “The situation in the economy is stable, moreover, it is much better than what not only our opponents, but even we ourselves predicted…One of the main indicators – unemployment – is at a historic low. Inflation is lower than expected and is displaying a downward trend,” Putin said. |
| He noted that inflation is expected to slow from the current 11.9% to around 5% in the first quarter of the year. | He noted that inflation is expected to slow from the current 11.9% to around 5% in the first quarter of the year. |
| “Apart from everything else, industrial production is on the rise, as well as agriculture and construction. So on the whole, the situation here is not just stable, but I think quite satisfactory, if not good,” Putin continued. | “Apart from everything else, industrial production is on the rise, as well as agriculture and construction. So on the whole, the situation here is not just stable, but I think quite satisfactory, if not good,” Putin continued. |
| Annual inflation in Russia in 2022 came in lower than previously predicted – both the Central Bank and the Ministry of Economic Development expected the indicator to surpass 12%. Consumer prices soared in the first half of last year, after the start of the Ukraine crisis and Western anti-Russia sanctions that followed. Inflation peaked in April at 17.83%, but gradually subsided in the following months. Western economists last year predicted inflation in the country would surpass 20%. | Annual inflation in Russia in 2022 came in lower than previously predicted – both the Central Bank and the Ministry of Economic Development expected the indicator to surpass 12%. Consumer prices soared in the first half of last year, after the start of the Ukraine crisis and Western anti-Russia sanctions that followed. Inflation peaked in April at 17.83%, but gradually subsided in the following months. Western economists last year predicted inflation in the country would surpass 20%. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |