11 Sep 2009 15:36

First signs of economic stabilization emerging in Russia

NOVO-OGAREVO. Sept 11 (Interfax) - The first signs of economic stabilization are emerging in Russia, Russian Prime Minister Vladimir Putin said at a meeting of the international Valdai discussion group.

"We can say that recently, starting in June, some stabilization can be seen in Russia and the economy is growing, albeit modestly, at 1% per month," Putin said.

He added that the current crisis "is a unique development which the world economy has never encountered."

"The crisis developments have enveloped practically all countries and it has been reflected in them in one way or another," he said.

Putin stressed that the crisis had affected Russia in "the most serious way."