Counted how many trillions lost business in Russia for a month of quarantine

Russian business after hours April 2020 lost 3.7 trillion rubles, the turnover of enterprises fell by 21% from the previous month, according to the international auditing and consulting network FinExpertiza.

As analysts stress, “among the industries most seriously affected long-distance and international rail transport — their turnover for the month declined from 74% (minus 8 billion)”.

Next in the rating by the depth of the fall followed, in particular, “hotel business (minus 64,7%, or minus 12 billion rubles), enterprises in the sphere of culture, sport and entertainment (minus 64% or 18 billion rubles), automobile manufacturing (down 57.6 per cent, or 143 billion rubles)”, listed in the study.

the experts point out that, for example, “the manufacturing industry is also one of the largest macrotrace — as a whole lost 20% of its turnover, however, preferences can not claim”.

overall, says the President FinExpertiza Elena Trubnikova, “the business of most industries during a pandemic coronavirus is a huge loss, most of which will not be offset by pent-up demand”.

“For the Russian economy it means a reduction in production, jobs and incomes. In April, Russian GDP fell at an annual rate of 12%, reversing the growth in the first quarter. Restrictive economic measures caught many businesses by surprise, the downtime was initially unclear,” says the expert.

According to her, “now, when the restrictions are gradually lifted, before the business task again as quickly as possible to adapt to new realities, to use, albeit limited, but growing consumer activity”.

Recall that March 25, in a televised address to the nation Russian President Vladimir Putin said about the “extremelyth importance” to prevent “the threat of a rapid spread of the disease.” In this regard, he announced the week of 30 March-5 April “off, with pay”. April 2 in the course of the next televised address, Putin stated that the threat from pandemic coronavirus infection COVID-19 is maintained. The head of state decided “to extend the state of non-working days until the end of the month, ie April 30, inclusive”, but “with the retention by the employees of their wages.” On 28 April, the President extended a state of non-working days before 12 may, combining the traditional may holidays on the working days from 6 to 8 may.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.

on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.

on 2 June Prime Minister Mikhail Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will be about 5 trillion rubles.

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