Experts talked about the fall in business profits in Russia

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The aggregate profit of Russian companies, excluding small businesses, in March – May of this year decreased by 67% on an annualized basis. This was reported by RBC with reference to the data of the report of the international audit and consulting network FinExpertiza on Wednesday, August 12.

According to analysts, this fall was the strongest for the spring months over the entire observation period, that is, over 16 years.

According to the study, the total profit of Russian business in the spring of 2020 amounted to 1.4 trillion rubles. Only agricultural, forestry and fish farming enterprises managed to increase their profits by 8.3%. For the rest, profits fell or losses occurred.

More than a third of companies received a loss of 1.65 trillion rubles, and the rest – a profit of 3.05 trillion rubles. The most disastrous month was March, with a cumulative loss of 277 billion rubles.

Experts note that the biggest losses were incurred by the companies that are engaged in the wholesale trade of natural gas – 231 billion rubles. The reason for this is the fall in prices and the decrease in demand for gas in Europe.

According to the ranking prepared by the National Rating Agency (NRA), 15 Russian regions have become leaders in terms of the number of types of support for businesses affected by the pandemic. The subjects with the maximum number of business support measures included Moscow, Buryatia, Crimea, Tula and Irkutsk regions, Perm Territory, Chelyabinsk Region, Chukotka Autonomous Okrug.

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