Reshetnikov believes that Russia's economy has begun to "cool down"

According to the minister, the economy's most important task now is to find a smart way out of the "cooling period"

The Russian economy has entered a period of cooling. This was stated by the head of the Russian Ministry of Economic Development Maxim Reshetnikov, speaking within the framework of the "open dialogue" in the Federation Council, Interfax reports.

"We see that more and more industries in the real sector are showing a decline in output. The growth rate of consumer demand is slowing down. At the same time, the increase in the population's income continues to go into savings, and not to the consumer market. Statistics show a noticeable slowdown in inflation," the minister also noted.

Now, according to Reshetnikov, it is very important to get out of the “cooling off” correctly.

"The task now is to wisely go through the cooling period. We are counting on a timely easing of monetary policy in order to maintain the target three percent growth rate outlined by the president in the long term," the head of the Russian Ministry of Economic Development emphasized.

The Minister also reported that the government, for its part, is still “taking steps to optimize the investment programs of our largest companies and to fine-tune support measures, concentrating them on our technological priorities.”

According to him, “the task must be addressed against the backdrop of ongoing external challenges and sanctions pressure.”

Russian President Vladimir Putin has repeatedly stated that 2025 will be a "soft landing" for the Russian economy. And according to Deputy Prime Minister Alexander Novak, 2025 will be a year of "controlled cooling," when the government and the Central Bank will seek a balance between reducing inflation and gradually returning it to the target while simultaneously keeping the economy from sliding into recession or stagflation.