Putin's Economic Balancing Act: Russia's Inflation Challenge

President Putin addressed concerns over Russia's economy, highlighting its stability but acknowledging signs of overheating. While economic growth may reach 4% this year, Putin emphasized the need to address rising inflation. He projected a soft landing with a growth rate of 2-2.5% next year to stabilize macroeconomic indicators.

At a recent annual news conference, President Vladimir Putin addressed concerns about Russia's economic condition. He affirmed the economy's current stability yet highlighted troubling signs of overheating, contributing to elevated inflation rates.

Putin noted that the country's economic growth could reach 4% this year. However, he expressed concern over inflation, suggesting it's a warning sign that demands attention.

The President indicated that a 'soft landing' is necessary to stabilize macroeconomic indicators, proposing a growth rate target of 2-2.5% for the following year. Efforts by the government and central bank are underway to temper the economic pace.

(With inputs from agencies.)