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Russian economy moving to stable economic growth — minister

Maxim Reshetnikov noted that since the existing restrictions are being lifted, especially those related to access to technology and export markets, there is no talk of economic slowdown

MOSCOW, October 14. /TASS/. The Russian economy is moving to a stable growth path and there is no talk of a slowdown, Russia's Economic Development Minister Maxim Reshetnikov said at a meeting of the State Duma's Committee on Budget and Taxes.

"Considering the fact that we are normalizing the budget policy, that we are in the phase of a strict monetary policy, that all our free capacities are largely used, as well as labor resources, it is certainly impossible to maintain these growth rates - quite high, of course, and we are returning to the potential that we have and which we estimate in the range of 2.5-3%," the minister said.

He added that since the existing restrictions are being lifted, especially those related to access to technology and export markets, there is no talk of economic slowdown.

"We assume that we are not experiencing any kind of slowdown in economic growth, but are entering a more stable, smoother trajectory of stable economic growth," Reshetnikov stressed.