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Russia real wages improving, says president Putin

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Staff Writer | December 27, 2016
President Vladimir Putin said Russia’s economy is returning to growth and there are signs that real wages are improving as the country emerges from its longest recession this century.
President Vladimir Putin
Russian economy   Gross domestic product will likely shrink by 0.5%
While “of course” economic difficulties remain, a “positive trend has emerged, and in recent months we observe very modest, but still growth in real wages in the real sector of the economy,” Putin said, Bloomberg reported.

“That inspires a certain confidence that the movement will be positive in the near term.”

Gross domestic product will likely shrink by 0.5% to 0.6% in 2016, rather than a previously forecast 1%, while the budget deficit will be 3.7% this year, Putin said.

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