Russia’s Wartime Economy Shrinks for First Time Since 2023
13 Articles
13 Articles
Russia's economy shrank 0.2 percent in the first quarter of this year from a year earlier, its first annual decline in three years, official data showed on Friday, as tensions over the war in Ukraine and sanctions mounted.
After several years of resistance despite the sanctions, the Russian economy fell for the first time in three years, in the first quarter of 2026.
The Russian economy contracted by 0.2 percent in the first quarter compared to a year earlier, the Russian statistics bureau reports. This marks the first time the Russian economy has contracted since 2023. Earlier this week, the Ministry of Economy already lowered its economic growth forecast for the entire year.
Russian gross domestic product (GDP) declined by 0.2% in the first quarter, while tensions related to the war in Ukraine and sanctions against Moscow are rising.
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