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Russia’s GDP grew 1.3% in the second quarter of 2026, beating Central Bank and government forecasts

Source: The Bell

Russia’s gross domestic product (GDP) grew 1.3% in the second quarter of 2026 compared with the same period last year, according to preliminary data published by Russia’s official statistics agency, Rosstat, on August 12.

The independent Russian outlet The Bell said the figure came in above estimates from Russia’s central bank (+0.8%) and the Economic Development Ministry (+0.9%).

Consumer activity drove the second-quarter growth, according to the Russian business outlet RBC, which said retail turnover rose 7.2% year-over-year.

Russia’s economy began growing again after a first-quarter drop of 0.2%. According to The Bell, GDP grew in the second quarter despite Ukrainian drone strikes and a key interest rate that Russia’s central bank has kept at 14%.

In the spring, Vladimir Putin was displeased with the decline in Russia’s economy and demanded that the government take action.

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