Russia's Economy Stagnates Amid Policy Shifts
Key rate raised to 21% in Sept 2024, then lowered to 18%.
Oil/gas revenues fell to 505 billion rubles in Aug, down 36% from July, lowest since mid-2025.
Gref warned growth near zero, needs 12% rate for recovery, but current plan of 14% by end is insufficient.
Reshetnikov confirmed faster cooling, budget deficit at 4.88 trillion rubles by July, over full-year targets.
2 months ago