A close confidant of President Vladimir Putin has sounded the alarm over what he describes as an accelerating economic downturn that could undermine Russia’s financial stability. Speaking at a recent economic summit, the ally emphasized growing concerns around rising inflation rates, shrinking foreign investments, and the potential for widespread corporate insolvencies. The warnings come amid a backdrop of strained international sanctions and volatile energy markets, which continue to pressure the ruble and disrupt supply chains across key sectors.

Key areas highlighted in the report include:

  • Decreased industrial output: Manufacturing and export numbers have declined sharply over the past two quarters.
  • Rising government debt: Increased borrowing to finance social programs and military spending is stretching fiscal resources.
  • Unemployment concerns: Job…