Putin hails Russia’s economic performanceApril 16, 2015 - 14:06 AMT PanARMENIAN.Net - President Vladimir Putin hailed the nation's economic performance in a marathon TV show Thursday, April 16, pointing at the ruble's recovery as a sign of a renewed investor confidence in Russia, the Associated Press reports. Speaking in a call-in show with the nation televised live, Putin said the nation's economic performance has remained strong, despite Western sanctions slapped on Russia over the Ukrainian crisis and a slump in global oil prices. He noted a 3.7-percent increase in agricultural production and low unemployment, but acknowledged that an 11.4-percent annual inflation rate has put a strain on consumers' budgets. Putin pointed to the ruble's recent recovery following its sharp devaluation last year as a sign of the Russian economy's resilience. He said that while an increase in oil prices had played a role in the recovery, the currency has strengthened more significantly than the oil factor would indicate, reflecting investors' renewed confidence in the Russian economic performance. Putin said the sanctions have given Russia a strong impetus to diversify away from its heavy reliance on oil and dependence on imports, and would encourage it to develop high-tech industries and boost domestic agricultural production. "We must use the current situation to reach new levels of development," he said. Putin added that the country can overcome any challenges if it remains united. "If we preserve a stable situation in domestic politics, preserve the current consolidation of society, we shouldn't fear any threats," he said. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |