Majority of Russian Businessmen Negatively Estimate Economy: Survey

Two-thirds of interviewed entrepreneurs negatively estimate the state of the Russian economy, according to a survey included in the annual report by Russia’s Presidential Commissioner for the protection of entrepreneurs’ rights Boris Titov to President Vladimir Putin, TASS reported.

The survey was conducted in February-March 2020 by the service of special communications and information of Russia’s Federal Guard Service. Owners of enterprises (56.7%), heads of enterprises (25%), deputy heads of enterprises (10.4%), and managers (7.9%) participated in it, all in all, 7,733 people.

“Two-thirds of respondents (68.3%) negatively estimate the state of the Russian economy,” the research said. Particularly, 52.2% of respondents described it as ‘problematic’, while 16.1% – as ‘disastrously recessionary’.

As many as 15.1% of respondents considered the Russian economy stable, whereas 3.5% referred to its state as ‘good’. The remaining 13.1% of participants were undecided.

Respondents suggest that it is first of all necessary to reduce the tax burden on enterprises, limit the tariff growth for services of infrastructure and commodities monopolies and cut tariffs, as well as reduce the administrative pressure on the business, for bringing Russia’s economic growth rates above the global average, according to the results of the survey.
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