Russia’s GDP grew 1.3% in the second quarter of 2026, beating Central Bank and government forecasts

In the second quarter of 2026, Russia's economy expanded by 1.3% compared to the same period in the previous year, according to preliminary data released by the country's official statistics agency, Rosstat, on August 12. This growth surpassed the forecasts set by both the central bank of Russia (+0.8%) and the Economic Development Ministry (+0.9%).

The surge in consumer activity, with retail turnover increasing by 7.2% year-over-year, was identified as the primary driver of this quarter's economic expansion, as reported by the independent news outlet The Bell. Following a modest decline of 0.2% in the first quarter, Russia's economy rebounded in the second quarter, despite facing challenges such as Ukrainian drone strikes and the central bank maintaining an interest rate of 14%.

In response to these economic hurdles, Russian President Vladimir Putin had expressed discontent in the spring, urging the government to take action. The Meduza news organization maintains transparency regarding its use of artificial intelligence in its reporting processes. The content of this story was crafted by one of their human journalists and translated from Russian using an AI model designed in accordance with their rigorous editorial guidelines.

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