NOVO-OGARYOVO, September 18. /TASS/. Russia is intentionally reducing the pace of economic growth in exchange for controlling inflation, President Vladimir Putin said during a meeting with leaders of parliamentary factions.
"With regard to the decline from growth rates of over 4% GDP – this is not a slump. These are deliberate actions: slowing growth in exchange for curbing inflation and maintaining macroeconomic stability," the Russian leader said.
At the same time, Putin agreed that during an economic slowdown, the main priority is not to "freeze" the economy entirely. The Russian leader concurred with Communist Party head Gennady Zyuganov that it is important to recognize when overcooling occurs and when a recession may be approaching. "The main thing is not to freeze it," Zyuganov emphasized. "Yes, you are right," the president responded.
Putin also noted that Russia is still far from entering a recession, as indicated by the labor market situation. "I believe that we are still far from a recession, and the labor market reflects this," the head of state said.
According to him, maintaining macroeconomic stability is one of Russia’s unconditional priorities, as it underpins the country’s defense capabilities and the fulfillment of all social obligations.
