Donetsk, Dec 14 - DAN. The economic situation in the Donetsk People’s Republic has stabilized; economic indicators are growing, DPR Head Denis Pushilin said on Tuesday.

“After 2014, the economic situation in the Republic has been influenced by negative military, political and economic factors,” Pushilin said at a meeting in Donetsk over prospects for deeper economic integration between Russia and Donbass.  “We succeeded in reversing the negative dynamics. Macroeconomic indicators show economic growth.”

According to preliminary estimates, budget revenue increased by 20 percent year-on-year. Over a year, the manufacturing sector increased the  trade volume by 14 percent, he said.

Earlier reports said that a meeting over Donbass economic development prospects had begun in Donetsk. It brings together politicians and business people from the DPR, the Lugansk People’s Republic, Russia and South Ossetia.  A number of agreements are expected to be signed.

Ukraine launched the economic blockade of Donbass on November 15, 2014. Back then, Ukrainian President Petr Poroshenko signed a degree to terminate the payment of welfare benefits including pensions in the conflict zone. A ban was placed on bank services for Donbass residents and enterprises. The DPR and LPR authorities called the decision “an act of genocide and ruin of people.” *jk