Russia's Economy Minister Maxim Reshetnikov warned that the country's economy is on the verge of recession, despite initially outperforming predictions after sanctions were imposed following the Ukraine invasion. While high defense spending and increased wages have temporarily boosted certain aspects, long-term concerns remain about inflation and lack of foreign investment. Other officials offered more optimistic views, suggesting a cooling-off period rather than a full recession.

Prepared by Christopher Adams and reviewed by editorial team.