Accessibility links

Breaking News

Putin: Economy 'Difficult But Not Critical'

Russian President Vladimir Putin has said the situation with the country's economy is "difficult, but not critical."

Putin said the budget deficit in 2016 should not exceed 3 percent of gross domestic product.

Putin was speaking on September 22 in Moscow at a meeting with government officials dedicated to Russia's 2016 budget.

Russia's economy has been hit hard by Western sanctions over its actions in Ukraine, plus falling oil prices.

The International Monetary Fund is predicting the Russian economy will contract 3.4 percent in 2015.

Based on reporting by Interfax and Reuters

RFE/RL has been declared an "undesirable organization" by the Russian government.

If you are in Russia or the Russia-controlled parts of Ukraine and hold a Russian passport or are a stateless person residing permanently in Russia or the Russia-controlled parts of Ukraine, please note that you could face fines or imprisonment for sharing, liking, commenting on, or saving our content, or for contacting us.

To find out more, click here.