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MOSCOW， Dec. 23 (Xinhua) -- President Vladimir Putin Friday voiced his confidence in bringing his country out of the years-long economic plight， while showing Moscow's readiness to mend or improve years of stranded ties with some countries.

ECONOMIC RECOVERY IN SIGHT

At his annual year-end press conference held Friday in Moscow， Putin said that Russia's economy has been recovering from a decline caused by adverse global situation and Western sanctions since 2014.

The country's Gross Domestic Product (GDP) was expected to slow down to 0.5 percent to 0.6 percent this year from 3.7 percent in 2015， while inflation for the year was likely to reach a record low of 5.5 percent， he said.H Industrial output in 2016 was expected to rise by 0.7 percent to 0.9 percent， mainly due to an increase in certain industries， Putin said， compared with a 3.4 percent decline in 2015.

The country's budget deficit this year was expected to 3.7 percent， up from 2.6 percent in 2015， which Putin said is "acceptable" as Russia has a trade surplus of over 70 billion U.S. dollars.

He noted that the Russian government's reserve fund of 100 billion dollars and the central bank's gold and currency reserves of around 400 billion dollars provided a "good safety cushion" for the Russian economy.

REFUTING U.S. HACKING CLAIMS

When answering a question about the U.S. claims of Russian hacking behind its presidential campaign， Putin retorted that the outgoing Barack Obama's administration wanted to make Russia a scapegoat for the U.S. Democratic Party's failure in the presidential election.

"Losers always try to find others to accuse for their failures，" he said， adding that by doing so， the Obama administration only demeaned itself.

The U.S. Democrats lost not only the November presidential race， but also both houses of parliament， which exposed system errors within the Obama administration， he added.

Moreover， when commenting on U.S President-elect Donald Trump's recent tweet on the need to enhance the U.S. nuclear capability， Putin said he was a bit surprised that some people in the current U.S. administration have been trying to prove that the U.S. armed forces are the most powerful in the world.

"Nobody is arguing about that，" he said. "If someone is accelerating an arms race， it is not Russia."

Noting that the Russian armed forces are stronger than any potential aggressor， Putin vowed to continue to boost the country's Nuclear Triad， a set of advanced armaments consisting of land-based intercontinental ballistic missiles， strategic bombers and submarine-launched ballistic miss. Wholesale Jerseys China Cheap Vapormax Black Cheap Air Max 90 Kids Cheap Air Max 90 Leather Cheap Nike Air Max 90 Cheap Nike Vapormax White Cheap Nike Air Vapormax White Cheap Air Vapormax Kids Cheap Air Vapormax Flyknit Utility Cheap Nike Air Max 90 Shoes