Russia's GDP decreases 1.5% in Feb, 1.8% in Jan-Feb - Economic Development Ministry

MOSCOW. April 1 (Interfax) - The decline in Russia's GDP in February 2026, amounted to 1.5% year-on-year after a contraction of 2.1% in January, according to the Economic Development Ministry's review of the current economic situation published on Wednesday.

According to the ministry's estimate, Russia's GDP decreased 1.8% in January-February 2026.

The decline in 2M is largely explained by the calendar factor, the ministry said.

"According to the estimate of the Economic Development Ministry, GDP growth rates amounted to minus 1.5% YoY in February 2026 after minus 2.1% YoY in January. The dynamics of the economy for the second consecutive month are largely driven by the calendar factor - in February 2026 there was 1 less working day than in February 2025 (in January 2026 there were 2 fewer working days than in January 2025). Adjusted for seasonality, GDP remained at the level of January 2026 (0.0% month-on-month)," the ministry said.

Russia's GDP growth amounted to 1.0% in 2025 after growth of 4.9% in 2024.

The ministry's September forecast for Russia's GDP growth in 2026 is 1.3%. Economic Development Minister Maxim Reshetnikov said last week that this forecast will be revised downward in April.

The Central Bank of Russia expects Russian economic growth in 2026 to be in the range of 0.5%-1.5%.

Analysts surveyed by Interfax in early March forecast GDP growth in 2026 at 1.0%.