US EditionPutin says war in Ukraine is not killing Russia's economy
- On June 20, President Vladimir Putin addressed Russia's economic condition during the ongoing conflict in Ukraine while speaking at a major economic forum held in St. Petersburg.
- Putin responded to concerns by citing Russia's claimed over 4% annual growth in recent years despite economic sanctions and battlefield losses.
- He emphasized that recession and stagnation must be avoided while highlighting steady manufacturing growth and reduced reliance on energy exports.
- Supporting data showed Russia's economy grew 1.5% in early 2025 and inflation declined to 9.6%, though warnings about recession risks remain from officials like Economic Minister Maxim Reshetnikov.
- The forum underlined tensions between optimistic official rhetoric and challenges from sanctions, defense spending, and recruitment costs, suggesting a fragile economic outlook ahead.
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17 Articles
Economic history teaches us that armed conflicts, though devastating, have activated powerful growth mechanisms. In World War I, the US reduced its unemployment from 7.9 percent to 1.4 percent. In the Second, 79 percent of the budget was directed to the war effort, which boosted GDP and created more than 17 million jobs. In Korea, annual growth exceeded 5 percent. And in the years after World War II, Europe and Japan experienced an unprecedented…
"We have too few potatoes this year," says Putin. SRF correspondent Calum MacKenzie on the background.
Putin says war in Ukraine is not killing Russia's economy
Russian President Vladimir Putin on Friday dismissed claims the war in Ukraine is devastating the Russian economy, citing continued growth, low debt and economic diversification as signs of resilience, while business leaders voiced concern about the economy's health.
Russian President Vladimir Putin has dismissed claims that the war in Ukraine is devastating his country's economy, citing continued growth, low debt and a more diversified economy as signs of resilience. However, several Russian business leaders have expressed concerns about the health of the economy.
Putin downplays threat of recession at Saint Petersburg Forum, points to growth in manufacturing
President Vladimir Putin has downplayed warnings that Russia’s economy is on the brink of a recession, pointing to the steady growth of the country’s manufacturing industries.
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