Novak called the adjustment after economic growth a normal stage of development.

Economic dynamics are cyclical, and after a period of high growth, there is always an adjustment, so this is a normal stage of economic development. This was announced on May 12 by Russian Deputy Prime Minister Alexander Novak.

"It should be borne in mind that economic dynamics is cyclical - after a period of high growth, there is always an adjustment, often accompanied by a structural transformation. This is a normal stage for the economy," he said in an interview with Vedomosti.

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