Business mortality in Russia has fallen to its lowest level in eight years. In 2023, the number of closed businesses decreased by 9.3% year-on-year. Most businesses closed in St. Petersburg.
In 2023, the number of business closures fell to its lowest level in eight years. This is stated in the FinExpertiza study.
At the end of 2023, 254,000 companies closed in Russia, 9.3% less than in 2022. The number of open companies remained practically unchanged and amounted to 242.5 thousand.
“Compared to 2022, business closures have decreased in all categories. The most significant drop was the number of closed companies that were not operating: 40.1%,” the analysts noted.
The anti-business mortality rating was topped by St. Petersburg. In the second city of the country, 14 thousand companies were opened and 21.8 thousand were closed, and in St. Petersburg the losses of private companies amounted to 7.7 thousand companies.
Author:
Kirill Bilyk
Source: RB
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