Humiliation for Putin as bombshell poll exposes 20-year first for Russia
Vladimir Putin has suffered an embarrassing blow as a poll suggests the majority of Russians believe their local economic conditions have worsened. Since the war with Ukraine broke out in 2022, due to the Kremlin's unlawful decision to invade Ukraine, Moscow has been haemorrhaging money to defence at the expense of its citizens, who increasingly find themselves unable to afford basic goods.
Four years on, a record-high 60% of Russians interviewed between March and May said their local economic conditions are getting worse, with only 27% saying things are getting better. This is the first time since 2006 that a majority of Russian adults have said the economy is getting worse in a survey carried out by Gallup, the prestigious pollster.
Previous figures stood at 45% in 2020 and 50% in 2021 amid the Covid pandemic.
The new research also suggests Russians are experiencing the highest level of pessimism yet, marking the first time in 20 years that a majority of Russian adults (56%) said their living standards are getting worse.
Labour shortages are also seemingly worsening, with 58% of those polled saying now is a bad time to find a job where they live.
Despite previous years of growth propped up by defence spending, this year Moscow lowered its growth forecast from 1.3% to 0.4%, even with the skyrocketing oil prices following the Iran war.
The deficit for the first four months of the year reached 5.9 trillion rubles, or around 2.5% of GDP, according to official figures.
Our community members are treated to special offers, promotions, and adverts from us and our partners. You can check out at any time. Read our Privacy Policy
According to the Economic Development Ministry, Russia's GDP in January and February was 1.8% lower than in the same period last year.
Russian Academy of Sciences’ Institute of Economic Forecasting (INP) estimates for the first quarter of 2026 say the economy has shrunk by 1.5%, compared to the same period a year previously.
The Central Bank had previously forecast GDP growth of 1.6% over the same period.
Putin hit back at this, claiming there were other factors determining how well business and investment is doing in Russia.
He said: "These are objective circumstances, of course, but it is clear they are far from the only factors determining business and investment activity in the country."