Russian GDP falls 2.1% in Jan - Econ Ministry

MOSCOW. March 4 (Interfax) - Russian GDP fell an estimated 2.1% year-on-year in January, the Economic Development Ministry said in a report on the current economic situation.

GDP had grown 1.9% in December 2025.

The economy fell in January from a high base last year - there were two fewer working days in the first month of 2026, the ministry said.

"The Russian Economic Development Ministry estimates GDP declined by 2.1% year-on-year in January 2026. Several factors influenced GDP dynamics: last year's high base (2.9% YoY growth in January 2025), as well as the calendar factor-there were two fewer working days in January 2026 than in January 2025," the ministry said.

GDP growth slowed to 1.0% in 2025 from 4.9% in 2024.

The Econ Ministry's September forecast for Russian GDP growth in 2026 is 1.3% - the ministry will update this in April.

The Central Bank expects the economy will grow 0.5%-1.5% in 2026.

Analysts surveyed by Interfax in early February forecast 1.2% GDP growth in 2026.