MOSCOW: President Vladimir Putin has affirmed that the Russian economy is financially stable, thanks to the soaring foreign reserves and the growing revenue of the central bank, and the government.
In a meeting on Thursday with representatives of the German business community, Putin stated that the low level of external debt and the growing reserves of the central bank, as well as the government's reserves, have created a completely stable economy.
Well into his third term, President Putin pointed out that foreign investors in his country operate in open market conditions, without imposing any restrictions on the movement of money and capital, which creates very favourable conditions for further development of business activities in Russia, Qatar News Agency reported.
Putin noted that Russia's economy is currently in the recovery stage and is growing.
He pointed out that Russian industrial production has grown by three per cent from January to September of the current fiscal year.