Bankruptcy level in Russia nears its historic high

Baku. 13 November. REPORT.AZ/ In September, bankruptcy level of companies in Russia nearly reaches the historic high recorded in October 2009.

Report informs citing the RIA Novosti, Center for Macroeconomic Analysis and Short-Term Forecasting of the Institute for Economic Forecasting of Russia said in review.

According to review, 3% of companies in the Q3 2017 went bankrupt compared with the previous quarter and more than 12.4% of the companies compared to the same period last year. The worst situation was registered in the construction sector. In September, a record-breaking number of companies - 242 went bankrupt. The bankruptcies in the trading, food and machine-building industries amounted to 300, 33 and 29 units respectively, and reached the maximum limit.

The report says that the main reason for bankruptcies is the loss of positive mood as a result of a decrease in consumer confidence. Thus, in last 12 quarters, real incomes of the population continue to decline.