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Business Profits Fell by 67% in Spring
13.08.2020 10:18
Business Profits Fell by 67% in Spring

The cumulative drop in business profits in March-May 2020 was 67%, RBC reports with reference to the report of the analytical service of the international audit and consulting network FinExpertiza. This is the largest drop in 16 years: previously, the indicator of 2017 was considered an anti-record, when profits fell by 28%. 

      In 16 regions of Russia, companies generated a net loss during this period. The worst was for Moscow business,  with its total loss of 85 billion rubles. This is followed by the Yamalo-Nenets Autonomous District (51.2 billion rubles), the Komi Republic (19 billion) and the Amur Region (13.2 billion). If we talk about the dynamics of the growth of losses, Ingushetia became the anti-record holder, in which the indicator grew by 3260% compared to the same period last year.

      At the same time, business profits increased in 27 regions. For example, in the Altai Republic due to the influx of tourists because of the closure of borders, the indicator showed an increase of 574%. In the Belgorod region, profit increased by 237%, in Mordovia - by 108%.

Author: Anna Dorozhkina

Tags: Russian business coronavirus    

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