{"id":118804,"date":"2025-05-21T03:55:08","date_gmt":"2025-05-21T03:55:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/118804\/"},"modified":"2025-05-21T03:55:08","modified_gmt":"2025-05-21T03:55:08","slug":"russia-economy-meltdown-as-gdp-growth-shrinks-186-in-blow-to-vladimir-putin-world-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/118804\/","title":{"rendered":"Russia economy meltdown as GDP growth shrinks 186% in blow to Vladimir Putin | World | News"},"content":{"rendered":"

Russia<\/a>\u2019s GDP is set to take a staggering hit in 2025 compared to other nations as the country continues to wrestle with a growing economic crisis. New forecasts by the UN<\/a> indicate sluggish economic growth worldwide amid trade tensions and policy uncertainty, noting Donald Trump<\/a>\u2019s tariffs could have global impacts.<\/p>\n

Major economies across the world are set for a slower GDP increase this year but Russia<\/a> seems to be particularly affected. The UN<\/a> predicts Moscow\u2019s GDP will grow by 1.5% in 2025, down from its estimated increase of 4.3% in 2024 \u2014 a decrease of 186% or 2.8 percentage points. Kyrylo Shevchenko, former chief of the National Bank of Ukraine<\/a>, said this is due to \u201clabour shortages and sanctions\u201d.<\/p>\n

Businesses and consumers across Russia<\/a> \u2014 which has been slapped with heavy Western sanctions following the war in Ukraine<\/a> \u2014 have been left reeling under the effects of spiralling inflation and high interest rates<\/a>.<\/p>\n

Experts have also said decreasing oil prices have been having an impact on the Russian economy, while Moscow\u2019s cheap oil supply is also reportedly running low.<\/p>\n

Estimates by Russia<\/a>\u2019s official statistics agency last weekshowed the country’s GDP grew by 1.4% year-on-year in the first quarter of 2025<\/a> \u2014 three times less than the final quarter of 2024 (4.5%).<\/p>\n

Russia<\/a> is continuing to pour huge amounts of money into its war in Ukraine<\/a>.<\/p>\n

The UN<\/a> is forecasting global economic growth of 2.4% this year and 2.5% next year \u2014 a drop of 0.4 percentage point each year from projections made in January. The global economy grew by an estimated 2.9% in 2024.<\/p>\n

The US<\/a> economy is also projected to fall significantly, from 2.8% last year to 1.6% this year, according to the UN<\/a>.<\/p>\n

China<\/a>‘s growth is expected to drop to 4.6% from 5% in 2024.<\/p>\n

The UK<\/a> is forecast to slow from 1.1% to 0.9%, however the British economy did grow at its fastest rate in more than a year in the first quarter of 2025<\/a>.<\/p>\n

Mr Shevchenko added: \u201cTrade tensions, inflation, and rising debt are squeezing economies, especially export-dependent ones. Ukraine<\/a>‘s GDP may grow just 2% in 2025. Full recovery depends on security, global aid, and lasting ceasefire.\u201d<\/p>\n

Ukraine<\/a>\u2019s economic forecasts were not mentioned in the UN<\/a> report.<\/p>\n","protected":false},"excerpt":{"rendered":"Russia\u2019s GDP is set to take a staggering hit in 2025 compared to other nations as the country…\n","protected":false},"author":2,"featured_media":118805,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1700,12,332,7661,659,333,26,26102],"class_list":{"0":"post-118804","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world","8":"tag-economy","9":"tag-news","10":"tag-russia","11":"tag-russia-ukraine-war","12":"tag-usa","13":"tag-vladimir-putin","14":"tag-world","15":"tag-world-section"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114543809360147647","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/118804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=118804"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/118804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/118805"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=118804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=118804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=118804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}