According to a survey last year, only 19 percent companies continued their investments as usual. Every third (33%) reduced them significantly. 15 percent completely froze all projects.
Three quarters of survey participants (72%) complained about an increase in receivables – i.e. non-payment by contractors. Moreover, the survey showed that in accordance with the contracts primarily state corporations do not pay.
In 2025 62 percent civil enterprises recorded a decline in profitsand the percentage of loss-making companies has increased, said Aleksander Muryczew, vice-president of RSPP. — The liquidity and non-payment crisis is intensifying. Huge increase in costs. Given that the situation on these indicators has deteriorated throughout 2025 and continues to deteriorate this year, companies are gradually exhausting their own resources that could allow them to continue operating, Murychev said.
Many urban enterprises, as well as those in single-industry cities, have already moved their employees to part-time work. In the second half of 2026, according to Muryczew, companies will most likely be forced to start layoffs. — The only visible prospect for many enterprises today is a reduction in production, a reduction in employment, and, in the most critical situations, unfortunately, also bankruptcy, said the vice-president.
A year in the red
According to data from the Federal Service of State Statistics, Rosstat, in the period January-November last year, the net profit (profit minus losses) of Russian business decreased by 5.5%. up to 25.43 trillion rubles (at the current exchange rate: PLN 1.1 trillion). Oil and gas companies saw their profits decline by 55%, car manufacturers – fourfold, and coal companies achieved a record net loss in history – 334.9 billion rubles (PLN 15 billion). Of the 28 industries, 21 ended the year in the red. And of the seven that saw growth, three were related to the defense industry.
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The government forecasts an acceleration of economic growth from 1 percent for this year. up to 1.3 percent In fact however, the economy may fall into recessionaccording to Oleg Vjugi, professor of the Faculty of Economic Sciences of the Higher School of Economics.
Russia enters 2026 with increased taxes and high interest rates. In addition, there is the problem of a shortage of income from oil and gas caused by the ruble exchange rate, export restrictions, and the drop in prices to $29. (at the current exchange rate of PLN 103) per barrel, lists Wjugi.
Moscow is in great desperation
In January, the Russian government raised VAT as the nearly four-year war against Ukraine blows holes in the state budget. Last September, the Russian Ministry of Finance proposed increasing VAT from 20 to 22 percent. to cover the budget deficit caused by military spending.
The Bell website estimated that such a step would generate 1 trillion rubles per year (approx. PLN 46 billion) for the budget. The Russian Ministry of Finance claimed that the money would be used primarily for “financing defense and security.”
Economists immediately began to warn that increasing VAT would slow down the economy, trigger a new wave of inflation and price increases for most goods and services, which will hit the pockets of every inhabitant of the country.
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