The Kremlin’s seemingly endless war has persuaded Russian business elites to seek short-term profit in an overheated economy over long-term investment. The growing calls for cheap money now threaten to dismantle a system of economic checks and balances that have kept the Russian economy stable over most of Mr. Putin’s rule, Ms. Prokopenko added.

South Africa risks missing its 2024 economic growth forecast after the agricultural sector’s deepest slump in at least three decades led to an unexpected contraction in the third quarter.

Australia’s economic growth remained sluggish last quarter as a surge in government spending underpinned the expansion, highlighting the central bank’s policy challenge as inflation is still stubbornly sticky.

Australia's economy grew by less than expected in the third quarter as a government splurge on defence and infrastructure only barely made up for softness in consumer and business spending. Data from the Australian Bureau of Statistics on Wednesday showed real gross domestic product rose 0.

Australian Industry Group CEO Innes Willox says the new GDP growth numbers are “disheartening”. The latest national accounts data for the September quarter reveals a 0.3 per cent GDP growth, according to the Australian Bureau of Statistics.