Putin says recession and stagnation in Russia’s economy must not be allowed to happen

President Vladimir Putin said on Friday that Russia must avoid the risk of recession or stagnation, and the task facing the country was to switch the economy to balanced growth.

“Balanced growth is moderate inflation, low unemployment, and continued positive economic dynamics… At the same time, some specialists and experts point to the risks of stagnation and even recession.

This should not be allowed under any circumstances,” Putin said in a speech to Russia’s showcase economic forum in St Petersburg.