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Putin Calls On Cabinet & CBR To Control Capital Outflow

RUSSIA

Speaking to the Presidential Council on Strategic Development and National Projects, Russian President Vladimir Putin claims that "Russia's economic growth is quite sustainable", adding that the country, "needs to keep up industrial output dynamics." Says that the "Current budget situation is stable on the whole, no risks for macro-economic stability...We expect [a] budget surplus in July-September." Claimsthat the budget surplus by year-end will be 2% of GDP.

  • Putin: "We've witnessed volatility on financial markets, that hampers investments..The cabinetand the central bank need to use the existing instruments more actively and adjust them [to] control the outflow of capital."

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