Russia's economy grew by 4.1% in 2024, Russian Prime Minister Mikhail Mishustin told President Vladimir Putin on Friday, slightly better than an official forecast of 3.9%.

Inflation has become a significant concern for both the Russian economy and consumers, who have witnessed rising prices for basic goods in supermarkets.

Since Moscow’s full-scale invasion of Ukraine in 2022, Russia’s economy has surpassed expectations. But some experts say this image of resilience is a mirage crafted by the Kremlin.

Speaking at a televised meeting with Prime Minister Mikhail Mishustin on Feb. 7, Putin noted that consumer prices in Russia rose by 9.5% in 2024 and have climbed further to 9.9% year-on-year this month.

The President of Russia, Vladimir Putin, acknowledged that inflation remains a serious "challenge" for his country's economy and instructed the government to take measures to reduce it by 2025, reports "The Moscow Times.

Russia reported strong economic growth for 2024 on Friday as record spending on the military offensive against Ukraine outweighed the impact of Western sanctions.

The President of Russia, Vladimir Putin, has acknowledged that inflation remains a significant "challenge" for the country's economy. He has instructed the government to implement measures to reduce inflation by 2025,

Russian President Vladimir Putin on Friday acknowledged that inflation remains a major “challenge” for the country’s economy and ordered the government to work on lowering it in 2025. Consumer prices in Russia rose by 9.