Russia's war-driven economy is so hot that the World Bank upgraded it to a 'high-income country'

Russia's GDP grew 3.6% in 2023, with trade and financial sectors rebounding. The World Bank also upgraded Bulgaria and Palau, while the West Bank and Gaza were downgraded. Russia's economy has defied ... Read More

War-driven economy is so hot, Russia is now a 'high-income' country

An curved arrow pointing right. Since launching its war on Ukraine, Russia has seen a boost in its GDP large enough that the World Bank reclassified Russia from an upper-middle-income to a high-income ... Read More

Russia’s central bank reveals GDP is shrinking, in a sign Putin’s war economy has slipped into recession

A chart in a central bank report showed GDP shrank on a sequential basis in the first and second quarters, meeting the definition of a technical recession. Read More

Putin ally issues dire warning about Russian economy

As a war economy, the engines of growth in Russia have dried up and a major issue is the depletion of Russia's labor force, a shortage exacerbated by troop losses in Ukraine and an exodus of those ... Read More

Russia's high military recruitment bonuses are straining its economy

Russia's high recruitment bonuses are straining its economy amid the Ukraine war. The soldier sign-on bonuses increase competition for labor, driving up wages and inflation. The country's economic ... Read More

Russia's Economic Shift: War and High Interest Rates Shape Future Growth

Russia anticipates a slowed economic growth of 1.5% in 2025, down from a previous 2.5% forecast. High interest rates to curb inflation have limited borrowing. Robust past growth is now hindered by ... Read More

Russia's Wartime Economy to Grow Despite Pain of Sanctions: Report

Brendan Cole is a Newsweek Senior News Reporter based in London, UK. His focus is Russia and Ukraine, in particular the war started by Moscow. He also covers other areas of geopolitics including China ... Read More

How Russia's weakening economy could impact the war with Ukraine

NPR's Elissa Nadworny talks with Alexandra Prokopenko, of the Carnegie Russia Eurasia Center, about weakness in the Russian economy and what that might mean for the country's war in Ukraine. In Russia ... Read More

Russia's War Economy Is Heading To Recession. It Probably Won't Slow Down The War.

At Russia’s annual marquee event for business investment, a Kremlin-funded bubbly celebration of promise and opportunity, the country’s top economic minister poured cold war on the party. “According ... Read More