Man-made Slowdown or Crisis in The Air: What the results of 2025 say about the economic dynamics of 2026
Vladimir Putin described the slowdown in Russian economic growth to 1% in 2025, following an average of 4.5% over the previous two years, as ‘man-made’, implying that the economy’s potential is substantially higher and that the drivers of its performance remain under the authorities’ control. In other words, the sharp deceleration is presented not as evidence of intractable problems that could herald a crisis after a period of ‘war overheating’, but as a deliberate adjustment.