The Russian government cut its growth forecasts for 2013 and 2014 for the second time this year after the economy expanded at its slowest pace since slumping in 2009, documents obtained by Reuters on Monday showed.

The lower forecast reflects weak industrial output, now expected to barely grow this year, and subdued investment as Russia's $2 trillion economy slows further more than a year into President Vladimir Putin's third term.

The economy ministry cut its 2013 forecast to 1.8 percent from 2.4 percent, as weaker exports and consumption growth also take their toll. It downgraded the 2014 outlook to a range of 2.8-3.2 percent from 3.7 percent.

Weaker growth will put pressure on Finance Minister Anton Siluanov's budget, which is due to go before parliament soon and which foresees a modest deficit next year.

The government has been considering various stimulus measures, unveiling a $13 billion investment plan to build new roads and railways by tapping a rainy-day fund, hoping to stave off the threat of recession.

Officials and bankers have been pressing for an easier monetary policy to lift economic growth toward the government target of 5 percent, itself below the 7 percent annual clip it grew between 2000-08.

The central bank kept interest rates on hold in August. It has said it will start cutting rates when inflation is inside its target corridor of 5-6 percent.

Reuters