Putin called the budget deficit to 2.8-2.9% of GDP a satisfactory indicator – Vedomosti

“Statistics show that the Russian economy crisis as a whole was over, at least, the peak of the crisis. With the II quarter of this year, there are signs of stabilization in economic activity”, – said Russian President Vladimir Putin at a big press conference 17 December. According to him, in September – October, GDP growth was, respectively, 0.3 and 0.1% the previous month. “Since March ceased to shrink the volume of industrial production in September – October, it recorded a small but still growth of industrial production – 0.2 and 0.1%, respectively,” – reminded the president.

maintain a positive trade balance in the major value – $ 126.3 billion, he said. International reserves totaled $ 364.4 billion. The external debt of Russia, according to Putin, declined by 13% compared to 2014, significantly reduced the outflow of capital. “Moreover, in the III quarter of this year recorded a net inflow (capital),” – said the president.

“With regard to the debt burden, it is a very important thing and a positive indicator. This is the flip side, associated with so-called sanctions”, – Putin said.

He also pointed to the preservation of stability in the labor market. “The unemployment rate hovers around 5.6%. If you recall in 2008, the overall result is positive, the positive work of the government”, – the president said.

According to him, budgeted for 2016 oil price forecast to $ 50 per barrel, appear to have to adjust. “We estimate next year’s budget is just out of this figure ($ 50 per barrel). This is a very optimistic estimate today. Now as she was – 38?” – Putin said.

The government, he said, will not rush to the revision of budget parameters for 2016 due to the high volatility of oil prices. “The government, of course, preparing the script for any scenario. This tool should be in the hands of the government, it should be ready for any development of the situation”, – at the same time, he said.

To date, the government expects to reach the economic growth of 0.7% in 2016, 1.9% – in 2017, 2.4% – in 2018 but these parameters are calculated based on the evaluation of oil $ 50.

Putin also said that the federal budget deficit in 2015 will amount to 2.8-2.9% of GDP, which is quite acceptable figure.