Key insights and market outlook
A recent survey by Russia's state-owned Public Opinion Research Center (VTsIOM) reveals that 55% of Russian citizens believe the conflict with Ukraine will end by 2026. The survey of 1,600 Russians aged 18+ shows growing optimism, attributed to perceived progress toward national objectives. However, this optimism comes as Russia faces economic challenges, including a 0.7% decline in industrial output in November compared to the previous year.
A recent survey conducted by Russia's state-owned Public Opinion Research Center (VTsIOM) reveals a significant shift in public sentiment regarding the ongoing conflict with Ukraine. The poll, which sampled 1,600 Russians aged 18 and above, found that 55% of respondents believe the conflict will conclude by 2026. This optimism is primarily attributed to the perception that Moscow's "special military operation" is nearing its objectives, aligning with national interests as outlined by President Putin.
The survey's findings come against a backdrop of growing economic challenges for Russia. Industrial output declined by 0.7% in November compared to the same period last year, following a 3.1% growth in October. This contraction was contrary to analyst expectations of a 1.2% increase, signaling potential underlying economic stress. The slowdown in industrial activity coincides with the waning effects of war-driven economic stimulus and government subsidies that previously buoyed the economy.
The VTsIOM survey results highlight the complex nature of public opinion in Russia regarding the Ukraine conflict. Historically, gauging public sentiment on sensitive issues like the war has been challenging due to strict control over public discourse. The fact that this data was published suggests a potential shift in how such information is managed or perceived by the government.
The combination of growing public optimism about the conflict's resolution and mounting economic pressures creates a complex environment for Russian leadership. As the economy shows signs of slowing, the government faces the dual challenge of maintaining public support for the ongoing military operation while addressing growing economic concerns. The perceived progress toward military objectives appears to be a key factor sustaining public optimism, despite rising living costs and economic uncertainty.
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