76% of Russian businessmen call condition of Russian economy disastrous

Russian businessmen have been polled to call three top factors that prevent Russian companies from development. They are uncertainty of the economic situation, high level of taxation, decreasing demand in the domestic market. Meanwhile, business people are more negative about the measures taken by the government to revive the economic growth than a year ago. These are the results of a poll conducted among management of Russian companies by the Russian Public Opinion Research Center and published on May 22.

The pollsters sat, about two thirds of the respondents (63%) believe that the conditions for their company worsened because of the current economic situation (it was 59% for this answer in 2017 and 73% in 2016). 12% speak of improving conditions (a year ago it was 15%). The respondents called three major factors which negative influence upon business increased in last year or two: prices for energy resources – gas and electricity, level of losses, uncertainty of the economic situation.

Businessmen are more negative about the actions taken by the government to revive the economic growth: 69% say they are ineffective (64% in 2017). The share of those with positive assessments of the government actions has decreased from 32% in 2017 to 25% this year. 41% of the entrepreneurs state the government has no strategic plan for reviving the economic growth, while 16% say there is such plan, and 33% believe that there is a plan but is ineffective, the opinion researchers say.

More than three fourths of the respondents say the Russian economy is in a troubled or disastrous condition. Half of the respondents (53%) are still thinking positively and expect positive dynamics in the development of the economy in next 2-3 years. About a half (45%) hope they will be developing actively. 23% believe their share in the market will shrink or they will have to shut down their business.