Russian Vice Prime Minister Alexander Novak stated that the economic… (экономика · ситуация · рынок)
Russian Vice Prime Minister Alexander Novak stated that the economic situation in Russia remains fully under control, following a government meeting assessing macroeconomic indicators and economic performance up to May 2026. He instructed continued monitoring of key metrics and requested a report from the Ministry of Finance on the stock market within the framework of a national project.
Consensus
- Alexander Novak, Russian Vice Prime Minister, stated that the economic situation in Russia remains fully under control.
- A government meeting was held to assess the current state of the economy.
- Novak instructed continued monitoring of key macroeconomic indicators for timely response to challenges.
- The Ministry of Finance was tasked with reporting on the stock market situation within the 'Development of Financial Markets' project under the national project 'Effective and Competitive Economy'.
- Data from Rosstat for January–May 2026 and June operational indicators were reviewed during the meeting, including consumer markets, labor market, industrial production, credit growth, and federal budget parameters.
- The Ministry of Economic Development estimated a 0.3% GDP increase in May 2026, with a cumulative 0.2% growth for the first five months.
Points of divergence
- Consumer activity remains the main driver of economic growth, with retail turnover, paid services, and catering increasing by 4.5% compared to the same period in the previous year. — riamo
- Central Bank Chair Elvira Nabiyulina previously identified the main constraint for the Russian economy. — vesti
Coverage (2 sources)
- Novak states that the economic situation in Russia remains fully under control — РИАМО
- Novak says the economic situation is fully under control — Вести