Russia is entering economic growth recovery - Putin

UFA, 4 September 2017. /Bashinform News Agency/. Russia is entering the recovery of economic growth, the Russian President Vladimir Putin said today, September 4, during the BRICS Summit in an extended format. "We are entering a recovery in the economic growth. It is not the same as in India or China, but after the recession we observe and register the growth of the economy by more than 2%", he said.

"We have achieved a record decrease in inflation in Russia", Putin said. "Now it is 3.5%, by the end of the year we expect 3.7-3.8%", RIA Novosti quotes the Russian president.

At the same time, the Russian leader noted that "Russia currently increases economic cooperation with the BRICS countries in conditions of overcoming the crisis phenomena in our economy".

Putin also said that investment in fixed capital was growing in Russia, trade turnover was increasing, with the exception of the oil and gas sector (25% in the first half), along with record low unemployment rate (around 5%), and industrial and agricultural production growth.

The Summit opened today in the South China coastal city of Xiamen. The leaders of the BRICS countries (Russia, China, Brazil, India and South Africa) held talks in a restricted format in the morning.