Kremlin Confident Despite Economic Revisions: Stability Amid Global Volatility
Russia has revised its economic growth forecasts downwards, with GDP expected to grow by just 0.4% in 2026 and 1.4% in 2027. Despite this, Kremlin spokesman Dmitry Peskov maintains that macroeconomic stability is achievable through government measures, even as external pressures persist due to Middle Eastern conflicts.
The Russian government expressed confidence on Tuesday in maintaining economic stability despite revising growth forecasts downward. The Economy Ministry slashed its 2026 GDP growth estimate from 1.3% to 0.4% and 2027 projections from 2.8% to 1.4%.
Deputy Prime Minister Alexander Novak mentioned growth is expected to reach 2.4% by 2029. Kremlin spokesman Dmitry Peskov assured that President Putin is deeply engaged in steering the economy through volatile global markets exacerbated by Middle Eastern tensions.
Peskov emphasized ongoing governmental measures for macroeconomic stability and incremental growth. The Russian economy, challenged by Ukrainian conflict, sanctions, and high interest rates, contracted in Q1, but measures to support recovery are in progress.
(With inputs from agencies.)
Google News