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Putin pledges Russia will keep to liberal course in currency regulation

October 11, 2015, 18:18 UTC+3
The Russian president pledged the government would take efforts to keep the budget deficit the lowest possible with further bringing it to the zero level
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SOCHI, October 11. /TASS/. Russia’s government will keep to the liberal course in currency regulations and will impose no restrictions on capital movement, Russian President Vladimir Putin said on Sunday at a meeting with Pirelli CEO Marco Tronchetti.

"We are not going to drop the liberal course in the sphere of currency regulation," Putin stressed, adding that investors could be sure "we are not going to restrict capital, currency proceeds movement."

The president also pledged the Russian government would carry out a balanced budget and social policy to preserve stability in this sphere."

The Russian president pledged the government would take efforts to keep the budget deficit the lowest possible with further bringing it to the zero level. He said the Russian government would do its best to ensure stability in the budget and social spheres and would continue to target inflation. "And, of course, we will keep a narrow profile of the budget deficit and will try to reach a zero level and even a surplus as soon as possible," Putin said.

He said he was sure the situation in the Russian economy would be stable. The Russian leader said the government and the Central Bank were working in close coordination with each other. In his words, the country’s currency and gold reserve had been growing and the government’s reserve funds were rather high.

"It gives grounds to think that the situation in the Russian economy will be stable and, despite the current decrease in domestic demand, we will work to bring it up to make it a weighty factor to ensure high economy development rates," Putin stressed.

He also pledged Russian would continue to diversity its economy, which was being necessitated by the current situation. "Russia’s economy will preserve a good development potential," he underscored.

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