MOSCOW (Sputnik) — The Russian economy suffered a setback in 2014, as the ruble lost about half of its value against the dollar amid low global oil prices and Western economic sanctions imposed against Russia over the Ukrainian crisis.
"Last year, we had issues linked to the reduction of the Gross Domestic Product. A reduction [of GDP] was recorded in the first quarter of this year as well, but it is twice smaller comparing to the last year over the same period. This means, we have seen a steady tendency in the improvement of macroeconomic indicators, including the GDP," Putin said during a meeting with French businessmen.
He added that the main task was to preserve this tendency and to move forward.
