Putin Calls for Stimulus Plan After Recession Alarm

Russian President Vladimir Putin urged the government to come up with a plan to revive the flagging economy after a minister warned that a recession is possible as companies cut investment and export demand wanes.

Putin told Prime Minister Dmitry Medvedev, who will address lawmakers tomorrow, to devise steps to aid “shoots” of growth, according to televised remarks. While not the main scenario, Russia risks sliding into a recession without stimulus, Economy Minister Andrei Belousov said last week after cutting this year’s growth forecast.