US EditionRussia slashes 2025 economic growth forecast to 1.5% from 2.5%
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Russia slashes 2025 economic growth forecast to 1.5% from 2.5%
Russia sees economic growth in 2025 slowing to 1.5%, far below the earlier 2.5% forecast, as high interest rates imposed to reduce inflation have stifled borrowing, Finance Minister Anton Siluanov told President Vladimir Putin on Wednesday.
Russia cuts 2025 economic growth forecast from 2.5% to 1.5%
Russia's Finance Minister Anton Siluanov told Russian President Vladimir Putin on Aug. 27 that the country has lowered its annual economic growth forecast for 2025 from 2.5% to 1.5%, as the country's wartime economy continues to falter.
The Russian economy will grow by 1.5% this year, a point less than initially projected because of the effect that high interest rates are having on demand, as can be seen from the Ministry of the Economy’s update of forecasts. Read more: Russia will implement an experimental framework of cryptocurrency transactions for qualified investors “Despite fairly difficult conditions for the implementation of monetary and credit policy, we believe that t…
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