Putin upbeat amid recession fears

AP

St Petersburg, Updated At : 02:23 AM Jun 21, 2025 IST

Putin. File

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President Vladimir Putin on Friday hailed Russia’s economic outlook, saying it has managed to curb inflation and ease its reliance on energy exports.

This contrasted with the sombre statement by Economic Minister Maxim Reshetniko on Thursday that the country is “on the brink of going into a recession.” The economy, hit with a slew of Western sanctions, has so far outperformed predictions.

High defence spending has propelled growth and kept unemployment low despite fuelling inflation. Lack of foreign investments pose threats to the economy.

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