LONDON, September 24. /TASS/. The European Bank for Reconstruction and Development (EBRD) has downgraded its outlook on Russia’s GDP growth for 2026 to half a percent, according to the Bank’s Regional Economic Prospects report.

The 2026 forecast for Russia’s economic growth has been revised down by 0.3 percentage points relative to the previous forecast published in June. The 2027 outlook has also been revised down by 0.3 percentage points to 0.7%.

According to the report, Russia’s "external position has remained robust on the back of higher oil prices," though defense spending has been increasing.

Russia has been a member of the EBRD since 1992. The London-headquartered bank suspended investment in Russian projects after the European Union and the Unites States imposed sanctions against Moscow in 2014.