President Vladimir Putin said on Thursday that Russia is deliberately slowing its economic growth in order to suppress inflation. "As for the decline from more than 4% GDP growth: this is not a decline, it is a deliberate action. It is a slowdown in growth in exchange for curbing inflation and maintaining macroeconomic stability," Putin said during a televised meeting with top lawmakers. A graph published in Russian central bank's report earlier in September showed two consecutive quarters of gross domestic product (GDP) decline in quarter-on-quarter terms, aligning with the common definition of a technical recession.