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Russia's economic recovery driven by domestic demand - Putin

Reuters
Russian President Vladimir Putin speaks during his annual end-of-year news conference in Moscow, Russia, December 14, 2017. REUTERS/Sergei Karpukhin (Reuters)

MOSCOW (Reuters) - Russia's economic recovery is increasingly driven by domestic demand, President Vladimir Putin said on Thursday.

Speaking at an annual press conference, Putin said the economy has overcome two major shocks: a drop in oil prices and Western sanctions.

Economic growth is now supported by a recovery in industrial output and Russia's thriving agriculture sector that is on track to produce a record harvest this year, Putin said.

(Reporting by Jack Stubbs, Vladimir Soldatkin and Denis Pinchuk; Writing by Andrey Ostroukh; Editing by Christian Lowe)