Last year, Russian GDP grew by just one percent and, according to Russian government officials, economic growth is expected to remain sluggish in 2026.
During a government meeting on Wednesday, a clearly disgruntled Putin said that the “growth curve” is currently “below expectations.”
Putin also said he expected “proposals for further measures to resume growth in the domestic economy.”
Russian public finances are under pressure from the costs of the war in Ukraine, but fighting in the Middle East has brought some relief. Last month, Russia almost doubled its oil export revenues, according to the International Energy Agency (IEA).
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