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Russian economy in ‘grey’ zone but reasons for optimism: Putin

April 14
11:16 2016

President Vladimir Putin insisted Thursday that while Russia's crisis-hit economy remained crippled by problems there are reasons for optimism as he held his annual phone-in with the nation. "The situation has not recovered but the trend is positive," Putin said after opening questions about the economic situation in the country, adding that Russia remained in a "grey" zone. Putin conceded that the government was forecasting a "small drop" in GDP this year of 0.3 percent following a slump of 3.7 percent in 2015, before growing by 1.4 percent in 2017.

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