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Russia sacrificed high growth rates to combat inflation — Putin

The tough monetary policy pursued by the Bank of Russia will not hopefully "over-freeze" the national economy, the Russian leader stressed

SOCHI, October 2. /TASS/. Russia decided to sacrifice high economic growth rates to combat inflation, President Vladimir Putin said at the plenary session of the Valdai Discussion Club.

Economic growth rates above global average values were observed in Russia for a long period of time, Putin said.

"However, we said as early as at the turn of the last year: we should sacrifice such record-high growth rates in order to fight inflation off," the head of state noted.

The tough monetary policy pursued by the Bank of Russia will not hopefully "over-freeze" the national economy, the Russian leader stressed.

"I hope it will not ‘over-freeze’ the economy," the head of state said, commenting on the Central Bank’s decision to increase the key rate in order to lower inflation.

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