Russia's Economic Stagnation: The Price of Militarization
Russia's economy slides toward stagnation with growth forecast around 1% in 2026, after two years of 4%+ expansion. The Central Bank cut its key rate to 15% but inflation remains sticky around 6.5-7%. With 38% of the federal budget devoted to defense and security, an acute labor shortage, and oil revenues down 50%, the war economy model shows its structural limits.
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