Number of bankruptcies in Russia have reached a record level
The number of bankruptcies in Russia in the third quarter increased by 3% compared to the second quarter. The country registered 3,227 bankruptcies, higher than July-September 2016. These increases were reported by the Center for Macroeconomic Analysis and Short-term Forecasting.
The report notes that two factors could have led to the increase in the number of bankruptcies: weak consumer demand and a slow decrease in the key rate. The Russian Federal State Statistic Service or Rosstat indicates real incomes of the population have fallen 12 quarters in a row. The key rate, which was 10% at the beginning of the year, …read more