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1st LD: Putin says Russian economy passes crisis peak

Xinhua, December 17, 2015 Adjust font size:

Russian President Vladimir Putin said Thursday at annual year-end press conference that the economic crisis peak in the country has passed, with signs of stability already shown in second quarter of this year.

"The situation in labor market is stable. The unemployment rate hovers around 5.6 percent," Putin said, adding that he fully supports the policy of Russian Central Bank and the government to ensure macroeconomic stability.

Any changes should be made based on economic realities, Putin said as he reminded that there should be no hush decisions of the Central Bank to further cut key rate.

Noticing the plunge of international oil prices, he ordered the Russian government to get prepared for "any development of the situation due to the volatility of oil prices." Endi