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Russian President Vladimir Putin stated in St. Petersburg, Friday, that predictions Russia would suffer a deep economic crisis this year have failed to materialise. Speaking at St. Petersburg’s International Economic Forum, Putin stressed that the country was "confidently" getting through all the difficulties it was facing. He said also that "we have stabilised the situation and overcome negative market fluctuations." Russia also managed to increase exports despite the fact that the country now has limited access to certain international markets. The president said tha the Russian banking and financial systems have managed to adapt to issues in the currency market, while keeping hold of their reserves.


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