Vladimir Putin sums up year-end results

Russian President Vladimir Putin is holding his annual televised Direct Line question-and-answer session with Russian citizens, a traditional event which this year is being combined with his year-end press conference with Russian and international journalists.

The combined event, dubbed the "Year-End Recap with Vladimir Putin," kicked off at Moscow’s historic Gostiny Dvor (Old Merchant Court) venue, steps away from Red Square, at 12:00 p.m. Moscow time (9:00 a.m. GMT).

The event is being covered by journalists from nationwide and regional Russian media outlets as well as foreign reporters accredited in Russia.

According to latest reports, 1.5 million questions have already been sent to Vladimir Putin.

President Putin said at the combined Direct Line Q&A session and year-end press conference said the national gross domestic product (GDP) will grow by 3.5% by the end of this year.

"It means that we bounced back from the fall last year - we had about 2.1%, in my opinion - if there is plus 3.5% this year, it means that we recovered from the drop and made a rather serious step forward," Putin stressed.