Russian President Vladimir Putin has said the country may have emerged from the most difficult phase of its current economic challenges.
Speaking at the Valdai Discussion Club in Sochi on Thursday, Mr Putin emphasised the need to reinforce economic stability, curb inflation, and sustain growth.
He also acknowledged that the government’s decision to raise value-added tax (VAT) would have an impact on economic performance, but said the measure would support the central bank in maintaining interest rate balance, according to Reuters.