Vladimir Putin praises the Government’s economic efforts

The Russian Government’s economic efforts have had a positive impact amid the sanctions, President of Russia Vladimir Putin said at a meeting with Belarusian President Alexander Lukashenko, Kommersant reports.

President of Russia Vladimir Putin. Photo by Mikhail Metzel / RIA Novosti

The Russian leader is confident that the national economy is withstanding the Western anti-Russia sanctions blow quite well. He acknowledged that, “of course, things are not so easy,” but in general, the Government “economic bloc’s” efforts are having a positive impact, which is “evidenced by all the key macroeconomic indicators.”

The Government’s “economic bloc” usually primarily refers to the Ministry of Finance and the Central Bank.

“The Central Bank’s policies have stopped the ruble’s meltdown and led to its significant strengthening. In addition, the decline in imports, which is only natural in the current circumstances, has contributed to growing economic indicators,” economist Dmitry Afanasyev said. “Inflation is also gradually stabilizing after the Central Bank raised its key rate and panic buying subsided.”

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