Russian Economy minister makes alarming concession about the country’s health

Russian Economy Minister Maxim Reshetnikov warned on Thursday that the country is “on the brink” of a recession, and that decisive action must be taken in the coming weeks to avoid economic chaos.

Despite relatively strong performance in 2023 and 2024 amid the ongoing war in Ukraine, Russia is facing a much more difficult 2025, burdened by tough Western sanctions, soaring inflation, and extremely high interest rates.

Even with massive wartime spending, the country is struggling to stay afloat. Reshetnikov urged Russia’s leadership to respond swiftly or risk sliding into a full-blown economic downturn.

“According to the data, there’s a slowdown. I didn’t predict a recession, I said we’re on the edge,” he said during an economics forum held in St. Petersburg. “I believe that if the right measures are taken, we can avoid it,” he added.

Russia’s GDP grew by just 1.3% in the first quarter of the year—the lowest growth rate since early 2023.

In recent months, some Russian business leaders have publicly voiced fears that they may have to shut down permanently if the country’s economic outlook doesn’t improve soon.

(QG - Source: Le Figaro - Picture : © Unsplash)