‘Worst over for Russian economy’

MOSCOW: President Vladimir Putin on Thursday said the worst was over for Russia´s crisis-hit economy, pointing to the recent rebound of the ruble despite Western sanctions over Ukraine.
“The ruble has stabilised and strengthened,” Putin said during his annual phone-in with Russians. “Experts believe that we have passed the peak of the problems.” “We´ve corrected the rate of the national currency, nothing burst and everything is working.”
Following the shock collapse in the ruble late last year, the currency has bounced back to a five-month high as fighting in eastern Ukraine has waned and oil prices have steadied.