Russia’s central bank reveals GDP is shrinking, in a sign Putin’s war economy has slipped into recession

The Bank of Russia lowered benchmark rates again on Friday and denied the economy is in a recession, even after its own data showed GDP has been shrinking this year. The latest cut brought rates down by 1 percentage point to 17% and marked the third reduction since June as sky-high borrowing costs have helped cool inflation but are also…

Source: https://fortune.com/2025/09/13/russia-economy-recession-gdp-q2-q1-central-bank-rate-cut/