The turnover of the Russian retail sector fell in April by almost a quarter

retail trade Turnover in Russia decreased in April 2020 23.4% yoy and amounted to 2 trillion 104,2 billion rubles, follows from materials of the Federal service of state statistics.

In March 2020 the growth rate was 5.6% yoy after 4.6% in February.

At the same time relative to the previous month, retail trade turnover declined in April by 28.5% after rising 10.2 percent in March.

Over the past year retail trade turnover in Russia increased by the year 2018 1.6% to 33 trillion 532,1 billion.

Rosstat says that in April, retail trade turnover of 95.9% was formed by trading organizations and individual entrepreneurs engaged in activities out of the market, the share of retail markets and fairs amounted to 4.1% (previous year to 94.7% and 5.3%, respectively).

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. Wave of devaluation held from 7 to 9 March and 18 March.

Reacting to the situation, the government and the Bank of Russia has prepared a plan of priority measures for the sustainable development of the economy. As explained by Prime Minister Mikhail Mishustin, “it’s kind of the anti-crisis plan, a set of operational activities that are necessary for stable socio-economic development”. “We will focus on supporting industries that were in a difficult situation, but primarily on the support of the people and providing them with goods of first necessity”, — stressed the head of the Cabinet of Ministers.

In particular, it has been announced vacation credit for small and medium business and people who find themselves in a difficult situation, promised financial assistance to the victims branches provided with soft loans, including the payment of salaries, reduced employers ‘ social security contributions, given the postponement of rent and tax payments, excluding VAT, imposed a moratorium on bankruptcy.

Later, it was adopted a second package of economic support measures (soft loans for working capital for strategic enterprises, non-repayable financial assistance to small and medium businesses, including on the issue of salaries and financial assistance to regions and airlines).

for its part, the Central Bank has approved measures to support citizens, the economy and the financial sector in a pandemic COVID-19, and then supplemented them with new packages.

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 26 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the volume of anti-crisis program to support the Russian economy in connection with the pandemic coronavirus infection COVID-19 exceeded 3 trillion rubles.

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