Putin Attributes Russia's Early-Year GDP Contraction to Seasonal Factors
Russian President Vladimir Putin addressed the recent 1.8 percent contraction in Russia's Gross Domestic Product (GDP) during the first two months of 2026, attributing the decline primarily to seasonal and calendar-related factors. Speaking at a government meeting focused on economic issues, Putin highlighted that the manufacturing and construction sectors were the main drivers of this downturn. He explained that the negative trend resulted from having fewer working days in January and February compared to the previous year, alongside weather influences. While acknowledging that investment activity is influenced by other unspecified factors, he emphasized the impact of the reduced work calendar. This economic slowdown follows a year where Russia's GDP growth fell to 1 percent in 2025, a significant decrease from over 4 percent in 2024. The article notes that this deceleration is largely a consequence of the ongoing war, which has shifted state spending toward defense while causing civilian economic sectors to grow more slowly. The report, sourced from Meduza, provides context on the broader economic pressures facing Russia amidst continued conflict and structural shifts in state expenditure.
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Putin Attributes Russia's Early-Year GDP Contraction to Seasonal Factors
Russian President Vladimir Putin addressed the recent 1.8 percent contraction in Russia's Gross Domestic Product (GDP) during the first two months of 2026, attributing the decline primarily to seasonal and calendar-related factors. Speaking at a government meeting focused on economic issues, Putin highlighted that the manufacturing and construction sectors were the main drivers of this downturn. He explained that the negative trend resulted from having fewer working days in January and February compared to the previous year, alongside weather influences. While acknowledging that investment activity is influenced by other unspecified factors, he emphasized the impact of the reduced work calendar. This economic slowdown follows a year where Russia's GDP growth fell to 1 percent in 2025, a significant decrease from over 4 percent in 2024. The article notes that this deceleration is largely a consequence of the ongoing war, which has shifted state spending toward defense while causing civilian economic sectors to grow more slowly. The report, sourced from Meduza, provides context on the broader economic pressures facing Russia amidst continued conflict and structural shifts in state expenditure.
Meduza.io