Moscow: Russian Finance Minister Anton Siluanov has forecast that the country's economy will grow by 1.5 percent this year, a rate that could allow the Russian Central Bank to cut interest rates for the third time in a year. Siluanov made the statement during a government meeting on economic issues chaired by President Vladimir Putin.

According to Qatar News Agency, the finance minister also said that the government would consider the draft budget for the 2026-2028 period in mid-September, stating that its priority is to provide the necessary resources to achieve national development goals.

Earlier, Russian President Vladimir Putin had anticipated that Russia's economic growth would slow down this year, an outcome he said was part of the government's plan to achieve a "soft landing" for the economy and curb inflation. The Russian Central Bank is currently pursuing a tight monetary policy, with the key interest rate at 18 percent. It has been cut twice this year.