Fact Check: Russia's GDP growth plummets from 5% to nearly zero.

Fact Check: "Russia's GDP growth plummets from 5% to nearly zero."

What We Know

Recent reports indicate a significant decline in Russia's GDP growth, which has dropped from approximately 5% to nearly zero. According to a high-frequency index compiled by Goldman Sachs, the annual GDP growth rate fell from about 5% to zero as of April 2025 (source-2). This downturn follows a period of growth in 2023 and 2024, where the economy grew by 4.1% and 4.3%, respectively (source-2).

The Russian economy is facing multiple challenges, including high inflation rates exceeding 10% annually and a significant budget deficit, which has raised concerns about economic stability (source-1). Industrial output growth has also slowed dramatically, with figures showing a mere 0.2% growth year-on-year in February 2025, down from 2.2% in January (source-1).

Analysis

The claim that Russia's GDP growth has plummeted from 5% to nearly zero is supported by credible sources. The Economist and various economic indicators confirm a sharp decline in economic activity. The Goldman Sachs index, which is a reliable financial source, corroborates this decline, indicating that the GDP growth rate has indeed fallen to zero (source-2).

Moreover, the Russian Central Bank has acknowledged the economic slowdown, attributing it to high inflation and decreased demand across various sectors (source-2). The Central Bank's decision to maintain high-interest rates at 21% further reflects the economic challenges, as it aims to combat inflation while inadvertently stifling growth (source-1).

The reliability of these sources is high, given that they come from established financial institutions and economic analyses. However, it is essential to note that while the situation is dire, some reports suggest that the GDP may not remain at zero indefinitely, with projections indicating a potential slight recovery later in the year (source-5).

Conclusion

The claim that "Russia's GDP growth plummets from 5% to nearly zero" is True. Multiple credible sources confirm a drastic decline in GDP growth, supported by various economic indicators such as industrial output and inflation rates. The economic landscape in Russia is currently characterized by stagnation, high inflation, and significant budget deficits, which collectively contribute to the assertion that GDP growth has fallen to nearly zero.