Putin says macroeconomic stability, low inflation key for growth

October 12, 2016 8:36 AM EDT

Russian President Vladimir Putin talks during a joint news conference with his Turkish counterpart Tayyip Erdogan (not pictured) following their meeting in Istanbul, Turkey, October 10, 2016. REUTERS/Osman Orsal

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MOSCOW (Reuters) - There is a need to support macroeconomic stability in Russia and stick to inflation goals in order to ensure economic growth, President Vladimir Putin said on Wednesday.

Speaking at an economic forum, Putin also said that a budget deficit of 3 percent of gross domestic product this year would be acceptable.

Western economic sanctions imposed on Moscow affect Russia's economy, but they also hurt the global economy in general, he said.

(Reporting by Alexander Winning and Katya Golubkova; Writing by Dmitry Solovyov; editing by Vladimir Soldatkin)

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