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Business Daily

Russia's covid crisis

Jun 11, 2020
Dmitry Nechaev, a Moscow bicycle workshop owner, fears the future post-lockdown. Economist Sergei Guriev discusses Russia's economy impact. Topics include premature lockdown easing, small business struggles, and Putin's crisis management.
17:28

Episode guests

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Quick takeaways

  • Small businesses in Russia struggle due to lack of government support and bureaucratic procedures.
  • Putin's declining popularity and economic challenges may lead to instability within his administration.

Deep dives

Challenges Faced by Small Businesses in Russia

Many small businesses in Russia are struggling to pay wages after the lockdown period due to lack of sales and resources. Business owners like Dimitri Nacheaev had to stop production and ask creditors for support. The government's bureaucratic procedures make it difficult for small companies to receive compensation or grants, leading to rising unemployment levels. The economic crisis and lack of support highlight the challenges faced by small businesses in Russia.

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