War in Ukraine Takes Toll on Russian Businesses
NEW YORK (RichTVX.com) — We’ve got breaking news: A joint study by the Expert RA agency, the Growth Economics Institute, and the Institute for Comprehensive Strategic Studies found that Russian businesses have shifted to a survival mode in response to the war in Ukraine. The study surveyed over 1,000 companies and found that 43% of respondents reported that the economic situation in Russia had a negative impact on their business. 48% stated that they are focused on maintaining their current operations in the next year or two, while only 12% were optimistic about increasing output, a decrease of 30% compared to last year. Only 22.5% of companies plan to release new products in the next two years and only 10% are spending more than 2% of revenue per year on research and development.
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