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Russia's Ministry of Finance predicts a 12% GDP decline this year, the largest deal since 1994 when it shifted to capitalism under Boris Yeltsin, the first post-Soviet president.
The fall will end nearly a decade of economic growth.
The leak will put pressure on Vladimir Putin, who on Monday modeled a reduced version of Russia's Victory Day exhibition marking the end of World War II in Europe.
Russia faces severe sanctions following the Ukraine invasion, with Brussels on the verge of a close oil strike.
It has left the Kremlin on the brink of default after last week slightly avoiding default on foreign debts for the first time since the Bolshevik revolution a century ago.
The Kremlin has yet to come up with a socio-economic perspective, but finance department figures - seen by Bloomberg - are less reliable than central bank predictions that there will be a contract between 8pc and 10pc this year.
The International Monetary Fund expects a decline of 8.5pc. The figures came as Mr Putin appeared at a Victory Day event in Moscow.
The president did not use the speech to officially declare war on Ukraine or to announce a major rally, continuing to refer to the conflict as a "special operation".
Krishna Guha, an analyst at Evercore, said Mr Putin "was aware of the threat to the military's support for the war effort through mass recruitment".
Meanwhile, European officials are locked in talks on how to move forward with a comprehensive ban on Russia's oil and gas purchases.
The European Commission is reportedly considering extending additional funding to empty eastern European countries to build a ban on the ban, which faces strong opposition from Hungary.
Britain and Shave have already vowed to stop Russian oil, and European countries are also seeking to extract gas from Moscow. Russia's central bank has repeatedly cut interest rates in recent weeks after raising them at the start of a dispute.
The reduction, which is aimed at driving costs, came despite inflation to 17.7pc.
Speaking in late April, Governor Elvira Nabiullina warned of a sharp economic collapse, rising prices and a severe disruption of Russia's labor market. He said Russia's economy was likely to remain stable by 2023.
Official figures show that the Russian economy grew by 3.7pc in the first quarter, but Ms Nabiullina said the temporary increase was driven by people who collected goods.
Russia's economy shrank by 3pc in 2020, the first year of the epidemic, and 7.8pc in 2009 amid a global financial crisis. Business surveys suggest that the employee continues to contract as the sanctions cause the need to dry out.
Managers are becoming increasingly skeptical of the situations they face as they reduce the backlog of work amid falling laws.
Companies are dismissing employees and trying to cut costs as they face inflation, according to recent purchasing management index data from S&P Global.
Many of the world's largest shipping companies are harassing Russia, accumulating inflation and pressure to supply the country.
Research data followed by Goldman Sachs suggests that Russia's economic activity is stable at about 10pc below pre-attack levels.
"Overall, mid-term development will depend on how Russia can export goods and re-direct (power) exports," analyst Clemens Grafe said.
