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Putin says measures taken to boost Russian economy are working

By Reuters Reuters
Russia's President Vladimir Putin attends the Congress of the Russian Mechanical Engineers Union in Moscow, Russia, May 14, 2026. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Russia's President Vladimir Putin attends the Congress of the Russian Mechanical Engineers Union in Moscow, Russia, May 14, 2026. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Vyacheslav Prokofyev Reuters

MOSCOW - Russian President Vladimir Putin said on Friday that measures undertaken by the government to boost the economy were beginning to yield positive results, after Moscow was forced to slash its economic growth forecast for this year.

Economic data for March was positive, with gross domestic product (GDP) up 1.8%, Putin told a televised meeting of government officials. Despite March growth the economy contracted by 0.3% in the first quarter.

Fresh forecasts this week by Russia's Economy Ministry lowered estimates for gross domestic product (GDP) growth in 2026 to 0.4% from 1.3% and cut estimated growth in 2027 to 1.4% from 2.8%. Growth was expected to reach 2.4% in 2029.

(Reporting by Reuters; Writing by Lucy Papachristou; Editing by Gleb Bryanski)

Russia's President Vladimir Putin attends the Congress of the Russian Mechanical Engineers Union in Moscow, Russia, May 14, 2026. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY.
Russia's President Vladimir Putin attends the Congress of the Russian Mechanical Engineers Union in Moscow, Russia, May 14, 2026. Sputnik/Vyacheslav Prokofyev/Pool via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Vyacheslav Prokofyev Reuters

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published May 15, 2026 at 3:43 AM.

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