The government decided to pass the economic crisis caused by falling oil prices and a coronavirus pandemic, at the expense of citizens whose incomes fell by 8%, and business, whose profits fell by 67%, or 1.65 trillion Stories of the power of “unprecedented” assistance have nothing to do with reality – the budget deficit amid the ruin of the economy amounted to only 2%, and reserves were maintained at the same level. As a result, the businesses that provide jobs and taxes went through the worst crisis in the entire history of observations.
The government served citizens and business paid
- According to the international auditing and consulting network FinExpertiza cited by RBC, the coronavirus pandemic, caused catastrophic damage to the Russian business. The total profit in March-may 2020 fell by 67% year-on-year. This falling profits not seen in the entire history of observations of the business in Russia – that is, for 16 years. Even in 2017, the business lost a total of 27% of profit.
- In the spring of 2020, the total profit of the business amounted to 1.4 trillion rubles calculated on the basis that one third of the companies was a loss of 1.65 trillion and the remaining profit of 3.05 trillion. Despite the fact that only at the end of March, the President introduced a “test week” with the absurd phrase “with pay” loss companies this month reached together 277 billion rubles Previously unprofitable month was recognized only January 2015 due to sanctions, falling oil prices and the devaluation of the ruble.
- In regional terms, the data looks even worse: in 16 subjects of the Russian Federation indicators deteriorated so much that the business has generated in them a net loss. The leader in terms of losses became Moscow (net loss of 85 billion RUB), Yamalo-Nenets Autonomous Okrug (51.2 billion), Komi Republic (19 billion), Amur oblast (13.2 billion), Nenets Autonomous Okrug (7.7 billion), Tomsk oblast (7.6 billion), Chechnya (3 billion), Dagestan (2.7 billion), North Ossetia (1.9 billion), Crimea (1.88 billion).
- It only remained profitable enterprises of agriculture, forestry and fisheries. The main generator losses was the wholesale trade of natural gas. Because of declining prices and falling demand from Europe, the loss amounted to 231 billion rubles.
- FinExpertiza experts predict that Russia will come to a V-shaped recovery. The population and business will be a long time to overcome the effects of coronavirus without government assistance. To prevent this weak recovery of demand in foreign markets and slow growth in domestic demand.
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