Putin points to decline in inflation; praises economy

Economy 2/17/2017, 9:50 AM
Putin points to decline in inflation; praises economy

Russia is experiencing improvement in business sentiment, with positive dynamics, President Vladimir Putin said and added data from last year indicate unexpectedly good economic results. In a statement on Friday, he stressed the rise in retail prices has been decelerating steadily, where inflation dropped to its current rate of 4.72%, Interfax reported.

The government will make more progress in business conditions and "find balanced solutions" to curb inflation further, Putin asserted. Today's official update revealed the monetary base expanded by 71.6 billion rubles ($1.24 billion) in the week through February 10, to 8.74 trillion rubles. The dollar strengthened 0.44% at 9:49 am CET to 57.7969 rubles.

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