Putin: Inflation in Russia Is Declining
According to the English section of webangah News Agency,citing RIA Novosti via Mehr News Agency,Russian President vladimir Putin stated on Tuesday that inflation in Russia is on the decline,calling it a major accomplishment.
The president added that by the end of the year, inflation is expected to fall to 6 to 7 percent-below previous forecasts. He described Russia’s federal budget situation as stable.
Putin further explained during an economic briefing that this year, both the government and the Bank of Russia shared obligation for steering the economy back toward balanced growth-meaning reducing inflation while keeping unemployment low. He noted that achieving a significant reduction in inflation is a key success.
He pointed out that annual inflation stood at 10.3 percent at the end of March, dropped to 9.4 percent by June, and reached 8.8 percent by July’s end.
