Russia urged to avoid the temptation of

Financial institutions must find a compromise with the shopping centers and not to take over their business in a crisis. This called the head of Minpromtorg Denis Manturov.

“We rely on common sense financial institutions, encourage them to find compromises and to avoid the temptation, as they say, “traderate” and to take business in such adverse conditions,” — said the Minister in an interview with TASS.

As pointed out Manturov, during a pandemic coronavirus infection COVID-19 shopping centres are substantially affected: a fall in turnover of non-food trade, public catering and household services to date is around 80%.

we will Remind, last Tuesday, the Deputy Minister of industry and trade of Russia Viktor Evtukhov said that about a third of shopping centres in Russia are still not open due to restrictions imposed in the fight against the spread of COVID-19.

According to him, “today, three thousand shopping centers across Russia opened a little over two thousand.” “And that’s just, unfortunately, they have a revenue (revenue of TTS — ed.) is materially injured,” — said the Deputy Minister.

At the same time, he assured that the global chain of bankruptcies in the industry have been avoided, including through support measures from the state.

However, the main problem of owners of shopping centers Evtukhov called the debt load, since the construction was not at his own expense. “The problem is that during this closure they begin to significantly change the financial performance, the so-called covenants that respond to the banks, because the borrower falls into a risk zone”, — said the Deputy head of the Ministry of industry and trade.

In early June it became known that more than half of retail chains in Russia are going this year to close some of their stores because of the crisis caused by the pandemic coronavirus infection COVID-19. Such data gasete “news” provided in the major consulting companies, information was confirmed by representatives of retailers and shopping centers (TC).

moreover, pointed out the publication about the possible closure of some talking points and heads of networks of public catering. As a result, by the end of the year is expected to increase vacant space in the shopping center to 10-12%, it can raise prices on most goods — by 4-15%, experts predicted.

However, they suggest, the closing of unprofitable points — a normal practice, therefore, not surprising that in the crisis, this process accelerated.

we also 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.

on 2 June Prime Minister Mikhail Mishustin reported on the state on the national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. June 19, Putin was sent a revised draft of the national plan.