The economy is paying the price for cooling down after overheating, but the base for recovery remains intact. Meanwhile, second-quarter GDP is likely to show a slight plus, and full-year economic growth could reach up to 0.7%, barring any major risks," Yeremkin said. Belousov argued that the Russian economy is facing a near-stagflationary situation. There is a group of goods and services experiencing sustained non-monetary price growth, such as regulated tariffs, fuel, and certain food items, while many other items show more restrained dynamics. "We continue to closely monitor the situation, and all incoming data is taken into account when formulating macroeconomic policy," the ministry stated.