Moscow: The Russian government announced Tuesday that the country’s economic output growth has decreased to 3% on an annual basis since the beginning of the year, down from approximately 4.5% in December of 2024.
According to Jordan News Agency, the Russian Ministry of Economy attributed the decline in economic growth to the end of a period of strong economic performance and indicated that growth is expected to continue to slow throughout the year, projecting a further decline to 2.5%.
The ministry noted that the decline is partly a result of diminishing returns from increased government spending in defence.