Terms of recovery of the Russian economy

Russian CEOs said the timing of the economic recovery of the country after the abolition of the restrictive measures imposed to combat the spread of coronavirus. It is reported RIA Novosti with reference to the study “How COVID-19 changing Russian business”, EY.

Almost half of the representatives of the companies said that the economic recovery will take more than one year, while 27 percent of respondents hope for a period of six months to a year.

The leaders also evaluated the possibility of recovery of enterprises: 36 percent believe that it will take more than a year. While 15 percent of them do not believe in the possibility of returning to previous levels of revenue.

According to the results, almost a third of companies said the earnings drop 50 percent or more. Among those who lost more than 30 percent, mainly companies from such sectors as automotive, airport activity, tourism, education, real estate, industrial production, retail trade, transport and logistics.

At the same time, six percent of respondents reported revenue growth during an epidemic, the positive trends observed in the sectors of consumer goods, retail, and information and communication technologies.

The study was conducted before may 11, Russian President Vladimir Putin has announced a new package of measures of state support.

Earlier the head of Russian companies revealed the extreme measures in a crisis. They consider staff reductions and unpaid leave extreme measures during an outbreak of the coronavirus.

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