"The pace of growth, as the president has repeatedly said, is insufficient. It has been acknowledged as insufficient. But the global economy as a whole is currently in a rather dire state, including due to the consequences of conflicts such as the one around the Persian Gulf. Countries in Western Europe and some Asian nations are also experiencing economic difficulties. Of course, Russia cannot remain isolated from these developments," the Kremlin spokesman said, TASS reported.

He stressed that the overall situation in the Russian economy remains stable and that the challenges it faces are not critical.