Putin Criticizes Officials Over Slowdown, Calls for New Measures
Russian President Vladimir Putin has criticized senior officials over the economic downturn at the start of the year and urged them to prepare new measures to boost growth. The economy contracted by 1.8% in the first two months.
Economic growth slowed to about 1% in 2025 after reaching 4.9% in 2024, reflecting the central bank’s tight monetary policy and Western sanctions targeting oil revenues.
The International Monetary Fund (IMF) raised its forecast for Russia’s gross domestic product (GDP) growth in 2026 to 1.1% following the recent oil price surge. The government, meanwhile, expects growth of 1.3% this year but has not ruled out a downward revision.
Putin told a meeting of economic officials that calendar effects alone cannot explain the decline. “I hope to hear detailed reports on the state of the economy today,” he said.
He also called for proposals to revive growth, support business and shift the workforce into more promising sectors. The government has prepared additional steps to reduce the budget’s dependence on commodity prices.