Andrei Klepach, who served as the chief economist for Russia’s state-controlled development bank, VEB, since 2014, has been fired from his post. His dismissal occurred shortly after Russian media outlets publicized a speech he delivered to a group of economists in May. In these remarks, Klepach offered a pessimistic assessment of the Russian economy, specifically warning that the country is at risk of losing a protracted economic conflict. He explicitly stated that Russia is “falling behind” the United States and China, and suggested that in certain economic metrics, the country is also trailing Ukraine.

While the bank has not issued a detailed public statement regarding the specific cause of his termination, the timing of the firing—occurring just days after his critical comments gained media attention—has led to widespread speculation that his professional departure is a direct consequence of his public dissent. The remarks were initially brought to light by the Moscow Times. The situation highlights the increasing sensitivity within Russian state institutions regarding public discourse on the country's economic trajectory during the ongoing war in Ukraine.