Russia’s ruble recently fell to a 24-month low against the US dollar, Russia’s economy appears to be in a state of flux. Russia is currently experiencing a high construction inflation rate of between 7.9% and 8.4%, this (of course) will lead to higher construction costs or projects getting cancelled in 2025 / 2026. GDP growth is forecast to be 3.1% to 3.2% for the 1st Q of 2025.

Russia continues to utilize its vast reserves of natural gas, oil, coal, fertilizers & minerals to maintain its political / economic power with countries such as India, China, Brazil, North Korea & Belarus.

Russia’s construction sector has contracted by 3.5% since April 2024. Unfortunately, the Russia-Ukraine conflicts has impacted the Russian Economy and the Russian Construction Sector, look for this problem to continue until a peaceful solution can be found, hopefully in the next 3 to 6 months.

The Russian economy prior the commencement of hostilities in Ukraine was slightly smaller in economic terms than Italy. Look for the Russian economy and construction sector to contract by at least 3% to 5% in 2025, price hikes, high inflation and rising unemployment appears to be on the cards in the next 6 to 12 months.