Russian Businesses Fall To Lowest Level In 15 Years - Intel

2025-09-20 10:40:25

(MENAFN- UkrinForm) This was reported by the Foreign Intelligence Service of Ukraine , according to Ukrinform.

In 2023, there were 3.29 million enterprises.

The reasons for this are the high key rate of the Central Bank , which remained at 21% per annum for six months, and the tightening of tax control.

"In 2024, the Russian tax service liquidated 100,000 legal entities, in 2023 – 172,000, and in 2022 – more than 214,000. Instead of improving the market, this leads to weaker competition, job losses, and reduced innovation," the report noted.

According to the report, in the first half of 2025, the“business mortality” rate in Russia was almost one and a half times higher than its“birth rate” - for the first time since 2022, when companies left the market en masse after sanctions were imposed. Most often, trading, construction, and industrial enterprises were closed.

Despite a slight reduction in the key rate to 17%, business in Russia continues to decline. The Russian economy continues to sink into a prolonged crisis that is affecting key industries and depriving small and medium-sized businesses of opportunities for development.

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As reported by Ukrinform, Russia is frantically looking for ways to patch up its budget in 202 , planning to take money from Russia's National Welfare Fund and raise taxes and fees.

Photo: Foreign Intelligence Service

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