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Putin says inflation in Russia declines to 2.4%

12 February 2020 19:53 (UTC +04:00)

Inflation declines in the country and the inflation level is "confidently low," Russian President Vladimir Putin said on Wednesday at a meeting on economic issues, APA reports citing TASS.

"Inflation declined to 3% in 2019; now this indicator amounts to 2.4% in annual terms," the president said. "Unemployment is at a steadily low level: it is 4.6% in average over the last year," Putin noted.

Growth of domestic GDP was 1.3% in the last year, with upward dynamics in the fourth quarter of 2019. "All these factors provide us with macroeconomic stability, reduce sensitivity of the national economy to fluctuations of the global market situation.

Accumulated reserves provide the safety margin for the domestic economy and the financial; system of the country, the president said.

All the social and investment plans stated by Russian authorities should be supported with funding in full scope, the head of state said.

"All the declared social, investment plans must be supported with funding to the full extent," Putin added.