Reshetnikov called the slowdown in economic growth a soft landing.

Maxim Reshetnikov, Head of the Ministry of Economic Development of the Russian Federation, said at a meeting of the Federation Council Committee on Economic Policy on September 23 that the Russian economy would continue to grow this year, but at a more modest pace.

"The economy is growing and will continue to grow this year, but, of course, at a more modest pace than in the last two years. This is a controlled soft landing to reduce inflationary pressure and achieve balanced and sustainable growth rates," Reshetnikov said, as quoted by TASS.

He also added that the slowdown in inflation opens up opportunities for further monetary policy easing.

National perspective: Russia remains the leader in Europe in terms of economy size

What measures of state support contribute to maintaining such indicators?

On September 18, Russian President Vladimir Putin, during a meeting with the leaders of parliamentary factions in the State Duma, said that the reduction in the growth rate of the Russian economy was a deliberate action to ensure its macroeconomic stability. According to the president, a recession is far away in Russia, as evidenced by the situation on the labor market.

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