Crisis peak behind Russia - Putin

October 13, 2015. Russian President Vladimir Putin attends the 7th Russia Calling! VTB Capital Investment Forum at the World Trade Center in Moscow. © Vladimir Astapkovich
The peak of the crisis has passed for the Russian economy as the country is confidently adapting to the changing environment and beginning to stabilize, according to Russian President Vladimir Putin.

"Surely, we have faced the crisis, nevertheless some experts say - and I agree with them - that the peak of the crisis has been reached and the economy in general – I don’t say absolutely - adapted or is confidently adapting to these changing conditions. This means the first signs of stabilization..,” Putin said at the Russia Calling! investment forum on Tuesday.

The Russian government and the Central Bank showed consistency and the ability to achieve results in crisis conditions, according to Putin, adding that the government expects economic growth to resume in the coming years.  The country will overcome the depression in some sectors of the economy, with positive dynamics to be restored as well, he added.

According to Putin, Russia’s political course will be based on realistic and modest forecasts for hydrocarbons and energy, based on a price of $50 a barrel.

READ MORE: Russia expects $60 oil in 2016, but ready for $50 – Kremlin

“This will enable us to focus more on our primary long-standing objective which is easier to be achieved in the current circumstances than in the context of high prices for our traditional exports. This objective is - structural changes in our economy; and our actions will be based on achieving that,” said Putin.

Speaking about Ukraine’s debt to Russia, Putin said he asked the Minister of Finance Anton Siluanov to talk with the International Monetary Fund about an additional $3 billion loan to Ukraine, so it could repay Russia.

The Russian President stressed that the government has no plans for any capital controls in the country and "no plans on restrictions of capital movement.”

According to Putin, that was one of the factors for the recent growth in direct investments.

“The third quarter [of 2015 – Ed.] saw direct inflow of investment for the first time since the second quarter of 2010,” said Putin.

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