Putin: Russia’s economic problems will last the longest two years – Pulse of Business

Putin: Russia's economic problems will last the longest two years – Pulse of Business

Putin said that the central bank and the Russian government have taken appropriate action in response to the crisis, but found some of them too late. He said that the central bank will not be wasted Russia’s foreign exchange reserves to strengthen the ruble. He stressed, however, that interest rates will not remain at the current level for the duration of the crisis.

– The current situation was caused by external factors, but it is worth noting that we did not do what we planned to diversify our economy – Putin said.

The Russian president said that the government should work with exporters not to gather foreign profits and helped stabilize the ruble.

– Our economy will emerge from the current situation. How much time it will take? In the worst case circumstances, I think about two years – Putin said.

At the start of the annual conference of the President of Russia paid 73.50 rubles per euro. Currently, 77.50.