The drop in profits of business in Russia was affected by the restrictive measures introduced to combat the coronavirus COVID-19, and the global situation changes, suggested Commissioner under the President of Russia for entrepreneurs ‘ rights protection Boris Titov. Earlier, analysts FinExpertiza reported the strongest over the past 16 years of the fall of business profits in the country. “On the one hand, protivoradikulitnye limitations — the main damage suffered predictable hotels, catering, health and entertainment business. On the other — changing the world market and here the victims were already wholesale trade in natural gas, metallurgy and fertilizer production. That is not the case only in one coronavirus”— said “RIA Novosti” Mr. Titov. The business Ombudsman added that to prevent the collapse of the strongest in the labour market and mass unemployment have helped the program of state support. “But of course, it is not a panacea and not replaced private business the profit of which he has lost,” said he. According to Mr. Titov, now the main problem is to understand how to return to pre-crisis turnover. “In addition to the point of stimulating consumer demand (primarily for the poor categories of citizens), a more active government policies to create jobs in the industries-locomotives”,— he said. According to analysts FinExpertiza, the cumulative profit of the Russian companies (excluding small businesses) in the spring of 2020 decreased at an annual rate of 67% and amounted to 1.4 trillion rubles compared to Net loss recorded in 16 regions of Russia. The most severe losses (231 bn) suffered by a company engaged in wholesale trade in natural gas. About the pace of recovery of the Russian economy — in the material “Kommersant” “the Only true reduction.”
