{"id":166823,"date":"2025-09-19T03:43:10","date_gmt":"2025-09-19T03:43:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/166823\/"},"modified":"2025-09-19T03:43:10","modified_gmt":"2025-09-19T03:43:10","slug":"putin-says-deliberately-curbing-economic-growth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/166823\/","title":{"rendered":"Putin Says \u2018Deliberately\u2019 Curbing Economic Growth"},"content":{"rendered":"

Russian President Vladimir Putin said on Thursday that Russia is intentionally slowing its economic growth, downplaying concerns about a downturn and claiming the economy is far from recession.<\/p>\n

\u201cAs for the decline from more than four percent gross domestic product (GDP) growth, this is not a decline at all. It is a deliberate action, a slowdown in growth rates in exchange for curbing inflation and maintaining macroeconomic stability,\u201d Putin said in a televised meeting with lawmakers, according to Russian state media.<\/p>\n

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Russia\u2019s GDP growth is expected to slow to around 1% from 4.3% last year, while inflation has exceeded 8%.<\/p>\n

\u201cI think that a recession is still a long way off, and the labour market reflects this,\u201d Putin added.<\/p>\n

This echoed remarks by Central Bank Governor Elvira Nabiullina, who said at the Moscow Financial Forum on Sept. 18 that \u201cwe shouldn\u2019t confuse a recession, which I agree is associated with very negative phenomena, with an economic slowdown.\u201d<\/p>\n

\u201cYes, there is an economic slowdown, but there is no recession. And even when people talk about a technical recession<\/a>, they mean the economy has been declining for two consecutive quarters. We haven\u2019t seen that,\u201d Nabiullina said in quotes cited by Russian state media.<\/p>\n

However, Reuters<\/a> reported that a Russian Central Bank report earlier in September showed two consecutive quarters of GDP decline in quarter-on-quarter terms, aligning with the common definition of a technical recession.<\/p>\n

<\/p>\n

\"Fugitive<\/p>\n

<\/a><\/p>\n

Other Topics of Interest<\/p>\n

Fugitive Banker Jan Marsalek Resurfaces \u2013 on Russia\u2019s Front Line<\/a><\/p>\n

While previous reports suggested one of Europe\u2019s most wanted conmen had settled in Moscow, recent reports indicate that he had been fighting in Ukraine while working for the Russian intelligence.<\/p>\n

It also came in conflict with claims by Russian Economic Minister Maxim Reshetnikov, who said in June<\/a> that Russia was \u201con the verge of recession\u201d while speaking at the St Petersburg International Economic Forum.<\/p>\n

Earlier on Thursday, Reuters<\/a> reported that the Russian government was considering hiking the value-added tax (VAT) rate in order to keep the budget deficit under control and preserve its reserves, citing four unnamed sources.<\/p>\n

Following initial reports by The Bell<\/a>, the agency said that the Kremlin was mulling raising the VAT rate from 20% to 22% in measures that could be introduced in the 2026 budget.<\/p>\n

If true, this would contradict Putin\u2019s public assurances that no further tax increases are planned, according to Reuters.<\/p>\n

\u201cHow can the deficit be reduced while adhering to the budget rule<\/a>? Only by raising taxes, because there\u2019s hardly anything left to cut, either military spending or social spending,\u201d one source close to the Kremlin told the agency.<\/p>\n

In May, the government tripled its federal budget deficit estimate to 1.7% of GDP, though an unnamed official quoted by state media this month said that it is now set to exceed that target, according to Reuters.<\/p>\n

Government spending has been a key driver of economic growth in Russia, where 40% of revenues are now splashed on defense and security.<\/p>\n","protected":false},"excerpt":{"rendered":"Russian President Vladimir Putin said on Thursday that Russia is intentionally slowing its economic growth, downplaying concerns about…\n","protected":false},"author":2,"featured_media":166824,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-166823","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/166823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=166823"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/166823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/166824"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=166823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=166823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=166823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}