Coronavirus pandemic is increasingly felt in Russian economy


July 29, Fineko/ The coronavirus has severely shaken the Russian economy.

ABC.AZ informs that this is reported by German newspaper Handelsblatt.

According to the German newspaper, Russia's GDP has completely declined, after the first wave of thousands of enterprises declared bankruptcy.

Unemployment has reached a catastrophic level. The article says that the single tax rate of 13%, applied in Russia in 2000, has been increased by 15% since this January for those who have an income of more than 60,000 euro a year.

In addition, Russia plans to sell large infrastructure facilities and even ports. In a range of large enterprises, government’s stake may be reduced to 50%.

Vladimir Putin has also completed billion-dollar infrastructure projects. According to the Central Bank, GDP declined by 9.5% -10%.