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Current economic situation provoked by external factors — Putin

December 18, 2014, 12:24 UTC+3

It will take two years if the situation unfolds according to the most unfavorable scenario, Russian President Vladimir Putin said

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© Artyom Geodakyan/TASS

MOSCOW, December 18. /TASS/. The current economic situation is provoked first of all by external factors, Russian President Vladimir Putin said.

The Central Bank and the government of the Russian Federation undertake adequate measures in the current situation, Putin said.

“There are questions both to the government and to the Central Bank regarding the timeliness, quality of the measures, but generally speaking — the actions are absolutely adequate and in correct directions,” he said. Putin said he hopes the key interest rate raised by Central Bank is going to decrease as the economy adjusts itself to a new situation.

Russian authorities will use measures to stabilize the current economic situation, which will be similar to those used in 2008, Putin told an annual news conference.

“We are going to use the measures, similar to those used, and very successfully, in 2008. Thus, we shall have to focus on assisting people, who need it most, and to keep to all our plans regarding the social aspects (pensions, budget wages and so on),” the president said.

However, the Russsian leader pledged that all social commitments will be preserved.

A way out of the current situation and Russia’s economic growth are imminent. It will take two years if the situation unfolds according to the most unfavorable scenario, he stressed

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