Named share of companies in Russia that have no money for wages and taxes

Approximately 20% of Russian companies need external financing, since they have no means for payment of wages, taxes, and insurance premiums. These are the results of the research of the Russian Union of Industrialists and entrepreneurs (RSPP) and the International labour organization (ILO).

“a Fifth of companies is in a critical position: they are unable to service the principal debt or pay the payments of the first phase (to include taxes, insurance premiums and wages). To ensure the principal and interest they need external financing”, — quotes TASS of the excerpts from the study, which was submitted to the government of the Russian Federation.

In this case, in particular, 13.3% of organizations that have funds for the payment of the first stage, are unable to pay interest on loans and principal amount.

At the same time, 29.9% of enterprises have enough funds to repay debts on schedule and to pay the fees of the first stage, and 20.7% of the surveyed companies have no debt.

the Study also revealed that 7.5% of the enterprises consider the possibility of temporary or final closure. 11,2% of the companies replied that, due to the growing crisis associated with the spread COVID-19 and actions, they are fired or plan to lay off employees.

Recall 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. 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 ostart-UPS 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 affected industries, provided 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 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.

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