However, he said there was "nothing catastrophic" about the volume of capital outflows - money taken out of the country - that Russia was experiencing.
The call has run for more than four hours in the past, as calls, texts and emails come in from across the world's largest country in geographic terms.
One of the quirkier moments in this year's call came when John Kopiski, a former U.K. resident who is now a Russian dairy farmer, asked Putin if he really believed the agriculture statistics he was given.
Regarding how John the Farmer made it to Russia, Putin questioned whether or not a woman was involved, using a French term and invoking laughter from the audience.
On questions about Ukraine, however, Putin was defiant in saying that there were no Russian troops in the country and that Kiev was not honoring its part in the Minsk agreement.
He added that by "not fulfilling its social obligations," Kiev was cutting Donbass—a region that fell victim to armed conflict between Ukrainian government forces and pro-Russian separatists—off from the rest of Ukraine.
In addition, Putin called the murder of opposition leader Boris Nemstov shameful and tragic and said the investigation into his death should be fast-tracked.
Regarding relations with the U.S., the Russian President said he did not ruin them and that Russia could not exist within the relations America has created.