The International Monetary Fund has lowered its forecast for the growth of the Russian economy in 2026 and 2027 by 0.2 percentage points. According to the updated estimates, Russia's gross domestic product will grow by 0.9% in both years.
In July, the IMF expected economic growth to reach 1.1% in 2026 and 2027. The fund estimates growth in 2025 at 1%.
Inflation also remains above target
The report states that inflation in Russia reached 8.7% in 2025. It is expected to slow to 6.1% in 2026 and to 4.8% in 2027.
The IMF notes that higher commodity prices are partially supporting economic activity in the country. At the same time, Russian oil exports are shrinking amid “damage to oil infrastructure,” the report said.
Putin reports higher growth in previous years
In September, Russian President Vladimir Putin said that Russia’s GDP had grown by 10.3% in the period 2023-2025. In May, he had forecast annual growth of 4.1% in 2023, 4.9% in 2024 and 1% in 2025.
“Over the past three years, the Russian economy has demonstrated growth rates that exceed the world average,” Vladimir Putin said.According to him, over the same years, the European Union’s economy grew by 0.4%, 1.1% and 1.5%, respectively. The IMF's new forecast shows an expected slowdown in Russian growth to below 1% per year in 2026 and 2027.
Sources: gazeta.press