Russian President Vladimir Putin.Getty ImagesCorporate bankruptcies in Russia rose sharply in the first two months of 2024.Russia has imposed two moratoriums on bankruptcy in recent years, both of which have now expired.High interest rates and macroeconomic instabilities are adding pressure on the private sector.Russia's economy appears resilient after two years of war with Ukraine, but a rising number of companies in the country are in trouble.The number of companies in Russia that have gone bankrupt has soared in the first two months of 2024, Russian business daily Kommersant reported on Thursday.In January, 571 companies in Russia declared bankruptcy — a rise of 57% from 364 a year ago, Kommersant reported, citing data from the federal register for bankruptcy.In February, 771 companies declared bankruptcy — 60% higher than the 478 that did so a year ago.Russia has imposed two moratoriums on bankruptcy in recent years.
Russia's Economy Appears Resilient, But Companies Are Going Bankrupt By The Hundreds
htan@insider.com (Huileng Tan), Business Insider
Thu, 03/07/2024 - 10:54pm
Topics: getty imagescorporate january february covid-19 west ilya torosov kremlin bank bartosz sawicki conotoxia polish russian president vladimir russia president vladimir putin sawicki business insider march companies sanctions moratoriums years imposed election rates pressure interest kommersant private difficulties macroeconomic tightening instabilities months told presidential country number reported rosy year trade ukraine declared
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