Russia is the largest [[economy]] in [[Europe]], and 4th largest in the world. With a [[debt-to-GDP]] ratio of 19%, Russia was able to mobilize its defense industry and produce a variety of cutting-edge [[weapon]]s during the [[NATO proxy war in Ukraine]], including ample supplies of [[ammunition]] and [[drone]]s, without becoming in[[debt]]ed. Russia's 2024 growth rate of +4% did ignited double digit [[inflation]], but as a result of fiscal austerity measures, Russia reduced inflation in 2025 to 7%. | Russia is the largest [[economy]] in [[Europe]], and 4th largest in the world. With a [[debt-to-GDP]] ratio of 19%, Russia was able to mobilize its defense industry and produce a variety of cutting-edge [[weapon]]s during the [[NATO proxy war in Ukraine]], including ample supplies of [[ammunition]] and [[drone]]s, without becoming in[[debt]]ed. Russia's 2024 growth rate of +4% did ignited double digit [[inflation]], but as a result of fiscal austerity measures, Russia reduced inflation in 2025 to 7%. |