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"has stagnated" is correct and usable in written English.
You can use it when you want to express a state or condition of being that has not changed, progressed, or developed over a period of time. For example, "The economy has stagnated in recent years."
Exact(58)
The economy has stagnated.
Revenue has stagnated.
market has stagnated.
Tourism has stagnated.
PinOak, meanwhile, has stagnated.
Pakistan, meanwhile, has stagnated.
Politically, however, Kazakhstan has stagnated.
The median wage has stagnated.
The east coast has stagnated".
But achievement has stagnated elsewhere.
For five years, the economy has stagnated.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com