Putin Defends Russia's Monetary Policy as Not Too Tight at Eastern Economic Forum

Russian President Vladimir Putin stated at the Eastern Economic Forum that Russia's monetary policy is not overly tight, citing current GDP growth of about 0.6% and noting it has exceeded the European average over the past three years. Putin said the cycle of major investment projects has been successfully completed and a new one must begin, supported by state backing and infrastructure. He also highlighted stability in the banking sector, with strong earnings at Sberbank, VEB, VTB, and Rosselkhozbank. The president defended the central bank's high key rate as a deliberate choice for macroeconomic stability, warning that injecting money into the economy would fuel inflation and hinder long-term investment planning. In August, he reported a consolidated budget deficit of 160 billion rubles for the first half of 2026.