MOSCOW (Pakistan Point News / Sputnik - 28th June, 2020) Russia's economic growth of the past three decades gives its grounds to hope that it will overcome the existing situation in the economy with minimal fallout, Russian President Vladimir Putin said on Sunday.
"The work we have done over the past years allows for hope that we will get out of this situation for good, with dignity and with minimal losses" Putin told the Rossiya 1 broadcaster.
The Russian president referred, in particular, to the period Russia went from re-emerging as one of the poorest countries with deep dependency on foreign loans after the Soviet Union's collapse in the 1990s to doubling its GDP between 1999 and 2019.
"Our industry has recently grown by 90 percent and the production more than doubled. In this regard, we still have a lot to do to diversify the economy, but it is happening, it is really happening," Putin said.
According to the president, even despite the present economic uncertainties, the Russian government's outlook for inflation is 4 percent.
Putin also stressed that the lives and well being of citizens remain the government's biggest priority.
