1 of 1
Story summary
- Russia's Economy Ministry reported that the $3.1 trillion economy contracted 0.3% in Q1 2026.
- Sberbank cut its 2026 GDP growth forecast to 0.5%–1% from 1%–1.5% after the contraction.
- Mining and manufacturing suffered the sharpest declines, according to Sberbank.
- Corporate profits fell 33% in the first two months of 2026.
- The key interest rate remained at 14.5%, which companies said made debt unaffordable.
