Russia's economy is “on the brink of going into a recession,” the country's economy minister said Thursday, according to Russian media reports. Economy Minister Maxim Reshetnikov delivered the warning at the St.

Economy Minister Maxim Reshetnikov said earlier during the St. Petersburg Economic Forum that the economy is “on the verge of going into a recession.”

There is mounting pressure on the economy to garner investments in sectors other than the military to avoid stagnation.