Mikhail Svetlov/Getty ImagesRussia's economy will be ground to a halt by 2026, a think tank said this week. Massive government spending on defense is costing other sectors, Alexandra Prokopenko wrote.Businesses are slumping amid inflation, low labor supply, and rising borrowing costs.By the numbers, neither Western sanctions nor the costs of three years of war in Ukraine have chipped at Russia's growth momentum.
Comment on Russia's economy has irreversibly turned toward a 'stagnation trap,' think tank says
fdemott@insider.com (Filip De Mott), Business Insider
Sat, 12/21/2024 - 6:30am
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