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Russia's economy will be under major strain in 2025, economists told BI. One said stagnation was similar to the USSR at the start of the 1980s. Russia's economy is entering a year of pain in 2025
With the central bank now operating in the shadow of stagflation, the worst may still be ahead. Data released on Wednesday showed that Russia's economy slumped 3.1% year over year in the last quarter.
The productive core of the Russian economy has been severely compromised, with the government's spending spree bearing a striking resemblance to Keynes' famous metaphor of digging trenches and ...
By 2016, the Russian economy rebounded with 0.3% GDP growth and officially exited recession. The growth continued in 2017, with an increase of 1.5%. [145] [146] In January 2016, Bloomberg rated Russia's economy as the 12th most innovative in the world, [147] up from 14th in January 2015 [148] and 18th in January 2014. [149]
Russian President Vladimir Putin and French President Emmanuel Macron meet in Hamburg, Germany at the G20 summit, in July 2017.. Due to the fact that the Russian centralised state, formed in the 15th-16th centuries, was almost constantly in a state of diplomatic and military confrontation with the Polish–Lithuanian Commonwealth, the Catholic rulers of France for a long time avoided ...
The Russian government under president Putin succeeded in convincing Armenia (in September) and Ukraine (in November) to halt talks with the EU and instead begin negotiations with Russia. [248] [249] Nevertheless, the EU summit went ahead with Moldova and Georgia proceeding towards agreements with the EU despite Russia's opposition. [250]
Russia's central bank says inflation is rising while the nation's economy cools. These are the key ingredients for stagflation, a scenario that's harder to combat than a recession.
In the wake of Russian invasion of Ukraine, Russia's role in the EU energy market has collapsed. Due to EU sanctions, Russia's weaponization of gas supplies, and the sabotage of the Nord Stream pipelines, Russia delivered only around 60 BCM of gas to the EU in 2022. By contrast, in 2021, the EU imported 155 BCM of Russian gas, which accounted ...