Russian businesses brace for an economic downturn
Most russian companies are preparing for further economic decline. A survey among business representatives showed that 57% of enterprises expect a downturn by the end of the year. Only 28% hope for a recovery, while the rest see no clear prospects.
▫️Businesses admit that 90% of companies had to look for new partners and suppliers, and many failed to do so. The so-called “friendly countries” did not compensate for the losses from the war and sanctions. Many businesses also had to reduce staff, and the labor shortage adds further difficulties.
These pessimistic sentiments sharply contrast with the kremlin’s claims of “economic resilience” and “adaptation to sanctions.” Despite the reassuring rhetoric of putin and the propaganda, the business community clearly recognizes reality: the war and isolation are increasingly undermining the economy, and prospects are growing ever gloomier.
