Russia Worsens Outlook Despite Putin’s Push to Rally Economy

Russia cut its official growth forecasts for the next few years, even after President Vladimir Putin signaled frustration with the slowdown and ordered the government to respond.

The economy is now expected to expand by 0.4% in 2026, down from a previous estimate of 1.3%, according to new Economy Ministry forecasts published Tuesday. The ministry cited tighter-than-expected monetary conditions as the reason for the revision.