Russia’s Red-Hot Economy Passed Its Peak With Future Unclear
- Analysts say Russia’s annual growth could be around 1% in 2025
- Military production continues to expand amid war in Ukraine
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Growth in Russia’s wartime economy has passed its peak after overheating in the first half of the year, according to analysts, even amid robust military production to support the ongoing war in Ukraine.
“The peak for growth was passed most likely in the middle of this year,” said Oleg Kuzmin, an economist at Renaissance Capital in Moscow. “What next year’s growth trajectory will be is an open question — whether it will be a ‘soft’ or ‘hard’ landing for the economy,” he said.