Anastasia Levchenko, Researcher at the Gaidar Institute’s Industrial Organization and Infrastructure Economics Department, assessed the state of Russian industry in recent years in a commentary for Nezavisimaya Gazeta.
According to the expert, Russian industry is showing signs of sustained stagnation, which has shifted into a recessionary phase since the beginning of 2026.
“Indicators of demand, output, and employment have reached levels comparable to the crises of 2020 and 2022, and for a number of indicators (investment satisfaction, credit availability) — to the crisis of 2008–2009,” noted Anastasia Levchenko.