Despite the war of aggression against Ukraine, Russia's economy is growing, but the economic future looks increasingly bleak. In 2024, the GDP growth rate was 4.1 percent, largely linked to the country's defense industry. Moreover, the 2023 figure is now being revised upwards from 3.6 percent to 4.1 percent.
On the other hand, a significantly weaker development is predicted for 2025, with a GDP growth rate of 1.5 percent, according to Bloomberg's calculations. This is due to, among other things, the country's central bank being forced to raise the interest rate sharply to a new record level of 21 percent.
