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Experts announced the strongest drop in business profits in Russia

Experts announced the strongest drop in business profits in Russia

The largest drop in entrepreneurs' incomes was recorded by experts in Russia over the past 16 years. Among the Far Eastern regions during the pandemic, the Amur Region had the worst result: the losses of entrepreneurs exceeded profits.

According to RBC, experts of the international audit and consulting network FinExpertiza conducted a study of the state of business in Russia after the pandemic. It turned out that more than a third of Russian companies were at a loss at the end of March-May 2020. This is the largest drop in business in 16 years.

The total amount of losses over the months of quarantine is about 1,65 trillion rubles. Total profit also declined, amounting to just 67% of the previous year. Prior to that, the biggest drop in profits was in April 2017 - then this figure fell by 28%.

The profit of Russian companies amounted to 3,05 trillion in March-May this year. However, taking into account the amount of losses, the total profit amounted to only 1,4 trillion rubles. At the same time, in some regions the situation has become so complicated that the business has not been able to show profit at all.

The worst situation was in Moscow - there businessmen calculated losses at the level of 85 billion rubles. Among the Far Eastern regions, the largest losses are in the Amur Region - 13,2 billion rubles. Compared to last spring, the situation of enterprises has deteriorated by 323%.

Together with the Amur Region, the Jewish Autonomous Region distinguished itself by a very high rate of decline in business income during the pandemic. Compared to spring 2019, the business situation there has deteriorated by 168%. Meanwhile, the Republic of Buryatia turned out to be one of the few regions of the country that showed a profit. The business performed with 80% increase in performance.

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