Vladimir Putin has said Russia must not fall into recession, stressing the importance of transitioning to stable economic growth amid the economic slowdown.

At an economic forum, Putin stressed the need to avoid recession amid the recent economic slowdown, with growth of just 1.4% in the first quarter. The economy minister warned that Russia is on the brink of recession, and criticism of the central bank's restrictive monetary policy has increased. Investment in the military complex is no longer boosting the economy and companies are demanding lower interest rates to encourage investment, while insolvencies are rising.