Russia’s economy is at risk of cooling down excessively amid a prolonged period of high interest rates and could face challenges returning to a growth path, a top executive at Russia’s largest lender, Sberbank, has warned.

“There is a danger of the economy overcooling and that we may not be able to come out of this slump, and further growth could be very restrained,” Sberbank First Deputy CEO Alexander Vedyakhin told Reuters on Wednesday.

Vedyakhin projected Russia’s GDP to grow just 1 to 2% this year, less than the government’s projection of 2.5%.

Russia’s Central Bank lowered its key interest rate to 20% from a historic high of 21% this month, attempting to keep inflationary pressure from the overheating war economy at bay while responding to growing political pressure to ease borrowing costs.

“My sense is that, most likely, the Central Bank’s key rate could be around 17% by the end of this year. I don’t think the Central Bank will sharply reduce the rate as there is a risk that inflation could rise again,” Vedyakhin said.