Russian Economy Grows 0.2 Percent, Putin Says Conditions Remain Stable

Russian President Vladimir Putin/© Alexander Kazakov/Russian Presidential Press and Information Office/TASS

JAKARTA - Russia's economy grew 0.2 percent in the first five months of 2026. President Vladimir Putin still calls the economic conditions of his country stable and the difficulties in the energy sector are only temporary.

Anadolu Agency quoted Thursday, July 23, saying Putin made the statement at a meeting on economic issues in Moscow on Wednesday.

Citing the Russian Ministry of Economic Development's initial estimate, Putin said his country's economy grew 0.3 percent in May compared to the same period last year.

"The domestic economic conditions and its main sectors are stable. The difficulties created for us in the fuel market are only temporary and are not able to affect the overall economic dynamics," Putin said.

Putin said there were attempts from outside to disrupt Russia's fuel and energy sector.

According to Putin, domestic demand from the government, business, and households is still one of the main drivers of growth.

Putin also said the government's financial condition remained stable. Russia's federal budget recorded a surplus of 196 billion rubles or about 2.5 billion US dollars in June.

The surplus was supported by an increase in revenue from the oil and gas sector and non-oil and gas revenue.

On the other hand, Putin highlighted the continued regional budget deficit. He ordered the extension of the deadline for loan payments.

Putin said the government remained committed to prioritizing efforts to start a new investment cycle and accelerate structural changes in the economy.

Additional steps will be discussed separately and in a meeting of the National Strategic Development and Project Council in August.