Sanctions are harmful not only for the Russian, but also for the entire world economy, Putin said. Yet, sanctions "strengthen our determination to achieve results in priority areas of the development of the country."
Russia is not going to impose any restrictions on the movement of capital and currency in the country, Putin said: "I want to emphasize that, despite the difficulties, we did not increase the tax burden on business, nor do we plan any foreign exchange restrictions or restrictions on the movement of capital," he said.
According to him, conditions become more difficult, but such an environment only serves as an additional incentive "to concentrate resources and choose best solutions." "This year's events have once again convinced us of the correctness of the choice that we made many years ago," said the president.
Despite currency fluctuations, fundamental factors to ensure stability of the Russian economy are very strong, the president believes. He particularly named "the balanced budget, significant reserves and strong balance of payments."
The Bank Russia has enough instruments to ensure financial stability, Putin said. A step towards the floating exchange rate does not imply absolute refusal from foreign exchange interventions.
Russia intends to switch to the use of national currencies in foreign trade settlements with China and other partners in the field of energy industry, he said. Not that long ago, Russia's Gazprom Neft conducted a first trial oil delivery to China for Russian rubles, he said...........................http://english.pravda.ru/russia/economics/02-10-2014/128705-putin_russian_economy-0/
2/10/14
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