And Russian deputy PM Alexander Novak just said in an interview that forecasted GDP growth for 2026 has been slashed to 0.4 % (previously 1.3 %) , and for 2027 to 1.4 % (previously 2.8 %). Interestingly enough, the forecast still operates with projected oil prices below $60/barrel.Looks like debt defaults are way up in Russia this year:
https://fortune.com/2026/05/09/russ...market-risk-putin-bunker-ukraine-war-economy/
Shared because it looks like things are going south quickly in Russia, but I don't really have any intelligent commentary about the substance of the article.
Obligatory quote:
"Economic dynamics are cyclical. After a period of high growth, there is always a correction, often accompanied by structural transformation. This is a normal stage for the economy,"
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