Business profits in Russia fall sharply

In the second half of 2022, the profit of large and medium-sized companies in Russia was 45.4% less than in the same period of 2021.

Report informs, citing foreign media, that this is a record decrease since the first half of 2020 when businesses were closed due to the coronavirus (COVID-19) pandemic.

Last year, enterprises in Russia made a profit of 25.93 billion rubles, which is 13% less than the previous year. The reason for the decrease is the sanctions imposed against Russia in connection with the attack on Ukraine.