Russian economy hits ‘technical stagnation,’ biggest bank chief warns of ‘close to zero’ growth

https://kyivindependent.com/russias-economy-hits-technical-stagnation-biggest-bank-chief-warns-zero-growth/

22 comments

  1. Telling the truth may not be good for your health in this situation.

    Imagine giving Ukraine more impetus to hit the resource-driven economic scaffolding of its enemy.

  3. Russia’s economy slowed sharply from April-June of 2025 and has entered a phase of “technical stagnation,” German Gref, the head of Russia’s biggest bank, Sberbank, said on Sept. 3.

    “The slowdown continues, as we can see from gross domestic product (GDP) growth rates. The second quarter can practically be considered technical stagnation,” Gref said at an economic forum.

    “July and August show pretty clear signs that we’re getting close to zero (economic growth).”

  4. The IMF has downgraded all it forecasts from last year – Russia is still forecast to grow 0.9%, which is more than Japan, Germany (negative in 2024, essentially zero in 2025…), Italy, France…

    [https://www.imf.org/en/Publications/WEO/Issues/2025/07/29/world-economic-outlook-update-july-2025](https://www.imf.org/en/Publications/WEO/Issues/2025/07/29/world-economic-outlook-update-july-2025)

    It’s shaping up to be a pretty bad year economically for most countries – the US may be the highest performing this year under Trump.

  5. If this is what they’re prepared to admit to the Russian public, things behind the scenes must be much much worse.

  6. There’s no surprise as military spending is like 7.5-8% of GDP while civil economy is underfinanced and deals with 18% key bank rate (even inflation adjusted key bank rate is top 1 in the world or maybe second next to Brazil)

  8. Thats what happens when your have a defect of the species as a leader.

  10. Well, you can thank Putin to start a war and drag the economy down.

  12. Part of the problem with Trump thinking he can get a peace deal in Ukraine. I’ve read 41% of Russia’s government spending is military. They are fully in a war economy. When the war ends, there will be massive pain. If Putin can pull a big enough win to sell the people, he might be okay. If Putin gets crimea and the donbas, that’s probably not enough for 100k deaths, a million wounded, and a wrecked economy.

  13. When even Russias biggest bank admits growth is near zero, it says a lot sanctions don’t break a country overnight, but they slowly strangle future prospects.

  14. its interesting how they are inventing new names for word “bankrupt”

  15. Zero growth is a contraction when dealing with heavy inflation. 

  16. After 3 years of sanctions and war, some stagnation feels unticlimactic at best…

  17. Elvira Nabiullina, the governor of Russia’s central Bank has done absolute miracles to keep Russia’s economy from exploding. But even her wizardry can’t hold out forever.

  20. Well, they and Israel can have our money against my wishes. MAGA voted to give it to them

  21. I wonder how that happened…

    If only there was an easy way to simply fix the problem. Hmmm

  22. I’m sure the United States of America will find a way to help out the situation. They are after all, a country in thrall to a hostile nation with an economy the size of Spain who has tirelessly campaigned and fought against everything the US stands for for decades so it stands to reason that Trump will find a way to help.

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