Deputy Prime Minister of the Russian Federation Andrey Belousov voiced two ways to combat economic overheating. Firstly, he notes, it is possible to increase production or curb demand, and secondly, to maintain the pace of import substitution.

“If the economy is overheated to a certain extent, this can be dealt with by increasing production, or by curbing demand,” the politician noted in a conversation with the publication “Kommersant”.

At the same time, he adds, if we begin the process of curbing demand, it is necessary to avoid a “hard landing,” that is, so that demand stops growing at the beginning of next year. Thus, Belousov is sure that by the end of 2024, GDP growth will be approximately 0.5-1.5% of GDP growth.

According to the Deputy Prime Minister, it is necessary to support import substitution and carry out the process of reorienting exports to new markets, which have emerged this year.