Russian President Vladimir Putin reprimanded officials after an economic contraction of 1.8% in the first two months of the year.

Russian President Vladimir Putin expressed dissatisfaction with senior government officials after the Russian economy contracted by 1.8% in the first two months of the year. He requested them to present measures to stimulate economic growth, considering that the growth forecast for 2025 has been revised down to 1%, from 4.9% in 2024.

Factors contributing to this situation include the central bank's restrictive monetary policy and Western sanctions on oil revenues. Although the IMF has revised its forecast for Russia's GDP for 2026 upwards, the Russian government has warned that it may lower growth estimates for this year.

Putin has called for detailed reports on the state of the economy and is awaiting proposals for measures to boost entrepreneurial initiatives and redirect skilled labor. He also mentioned that the government is working to reduce the budget's dependence on volatile revenues from global markets.