Putin said that the Russian economy is out of recession

© RIA Novosti / Alexei Nikolskiye in Photobacterium of the Russian Federation Vladimir Putin at a meeting of the Council for culture and the arts. 21 Dec 2017Putin said that the Russian economy is out of recession© RIA Novosti / Alexei Nikolskiye the image Bank

A recession in the Russian economy has ended — as evidenced by the GDP growth, said President Vladimir Putin at a meeting with representatives of business circles.

«We see that in January-November of the current year, GDP increased, according to the Ministry of economic development, 1.4%», — said the President, noting that «the trend is clear — go ahead».

He drew attention to the fact that in the fourth quarter economic growth has slowed somewhat. «We all understand why some decline occurred due to decrease of volumes of industrial production, but at the same time, the overall trend is encouraging», — said Putin.

The President also listed the signs that the economy has overcome the recession.

«Trade growth and consumer demand, which since September has been increasing by about 3% compared to the previous year, steady increase in freight turnover in railway transport, which lately is about 6%, and the growth of demand for labor and reducing unemployment,» — said the head of state.