Russian economy slips into stagnation as GDP grows by just 0.1% in November

In November 2025, Russia’s GDP grew by only 0.1% year-on-year. This is the worst result since early 2023 and indicates that the Russian economy is entering a phase of stagnation.

According to Ukrinform, this was reported on Telegram by the Center for Countering Disinformation (CCD) under Ukraine’s National Security and Defense Council.

“According to Russia’s Ministry of Economic Development, Russia’s GDP increased by just 0.1% year-on-year in November 2025. This is the worst figure since the beginning of 2023 and a de facto signal that the economy is slipping into stagnation,” the statement said.

It is noted that for the first time in nine months, industrial production turned negative, declining by 0.7%. This is clearly not a seasonal fluctuation, as industry had been the backbone of the so-called ‘wartime growth’ that formally sustained economic indicators in 2023–2024.

Even analysts loyal to the Kremlin are recording a sharp rise in the risk of recession in 2026. They acknowledge that the economic model based on three pillars – budgetary pumping, import substitution, and forced lending – has run its course.

The Center emphasized that this is a direct consequence of the war and the Kremlin’s managerial incompetence. Russian authorities are deliberately continuing the aggression even as the economic base for it is no longer sufficient. Russia’s economy is heading into a dead end, and the longer the Kremlin ignores reality, the more painful the consequences will be.

As Ukrinform previously reported, Russia’s state railway monopoly, Russian Railways (RZD), is sinking into crisis and has been forced to cut spending.