Russian President Vladimir Putin has publicly raised concerns about the country’s slowing economy, expressing frustration with top officials and demanding answers.
Speaking during a televised meeting, Putin revealed that Russia’s GDP dropped by 1.8% in the first two months of the year, with key sectors like manufacturing and construction also declining. He made it clear he’s unhappy, saying the economy is performing worse than both expert and government forecasts.
Despite strong growth driven by heavy military spending in recent years, momentum is fading. Lower oil revenues and rising deficits are now putting pressure on the economy, while ongoing tensions from the Russia-Ukraine War continue to fuel inflation and strain resources.
At the same time, Russia is facing an unusual problem — not enough workers. With unemployment at historic lows, businesses are struggling to find staff, which is pushing wages and prices higher.
Warnings are also growing louder about a possible financial crisis. High interest rates, rising debt, and weaker consumer spending are starting to take a toll, with some officials fearing serious trouble ahead if conditions don’t improve.
For now, the message from the Kremlin is clear: the pressure is building, and Russia’s economic challenges are far from over.
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