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Home Breaking News Debts of small and medium-sized businesses have sharply increased in Russia

Debts of small and medium-sized businesses have sharply increased in Russia

Debts of Russian small and medium-sized businesses (SMEs) on loans increased over the past year by almost 23%, it follows from the estimates of the rating agency “Expert RA”.

“The debt of small and medium-sized businesses in 2020 increased by almost 23% and reached 5.8 trillion rubles as of January 1, 2021, against 4.7 trillion rubles at the beginning of 2020,” TASS quotes excerpts from the study.

Analysts have recorded such a sharp increase for the first time since 2012. One of the reasons for the growth of the loan portfolio in the agency is called the active restructuring of loans as part of anti-crisis support for business.

Recall that the Russian economy in February-March 2020 was under the powerful influence of two negative factors at once – the rapid spread of the COVID-19 coronavirus pandemic and its detrimental effect on the global economy, as well as the collapse in oil prices. Against this background, the ruble depreciated significantly against the dollar and the euro. In response to the situation, the government and the Bank of Russia have consistently introduced several packages of measures to support the economy and citizens.

On June 2, Prime Minister Mikhail Mishustin presented to Russian President Vladimir Putin the first version of a national plan to restore the Russian economy in 2020-2021. On June 19, a revised draft of the national plan was sent to the head of state, and on September 23, the government approved the final version of the document (worth about 6.4 trillion rubles).

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In November, Putin said that the volume of anti-crisis support from the budget during the epidemic amounted to 4.5% of GDP in Russia, which helped ease the situation in the economy and go through a difficult period without irreversible losses.

We also add that at the end of 2020, the Russian economy showed a decline of 3.1% compared to 2019, when it grew by 2%. This is the first assessment of the Federal State Statistics Service. It turned out to be better than the expectations of the Ministry of Economic Development and the Central Bank of the Russian Federation. The Ministry of Economic Development predicted a decline in the economy at the end of 2020 by 3.8%, and the financial regulator – by 4-5%. Nevertheless, the decline in Russian GDP by 3.1% is the strongest since 2009 (then the economy lost 7.8%).

On January 26, the International Monetary Fund predicted that the Russian economy will add 3% this year and will grow by 3.9% next year.

Earlier in January, the international rating agency Moody’s shared its expectations that Russian GDP will grow by 2.3% this year after falling by 4.2% last year.

Prior to that, on December 25, the head of Sberbank, German Gref, in an interview with the Russia 24 TV channel, suggested that in 2021 the annual inflation in the Russian Federation would be below 4%, and the economic growth rate would be 2-3%.

Following the meeting on February 12, the Central Bank of the Russian Federation predicted the “recovery growth of the Russian economy” in 2021 by 3-4%.



Source site www.rosbalt.ru

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