Russia has seen a sharp spike in corporate bankruptcies, according to a report that comes as Vladimir Putin looks to tax companies more to pay for his social program and the sanctions-hit economy continues to face turbulence.
The business newspaper Kommersant reported that in the first two months of 2024, corporate bankruptcies had increased by more than a half compared with the same period last year—and experts predicted an increase in insolvencies in future.
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By Brendan Cole – Senior News Reporter:
Russia has seen a sharp spike in corporate bankruptcies, according to a report that comes as Vladimir Putin looks to tax companies more to pay for his social program and the sanctions-hit economy continues to face turbulence.
The business newspaper Kommersant reported that in the first two months of 2024, corporate bankruptcies had increased by more than a half compared with the same period last year—and experts predicted an increase in insolvencies in future.
Read more: [https://www.newsweek.com/russia-bankruptcies-economy-kommersant-1876806](https://www.newsweek.com/russia-bankruptcies-economy-kommersant-1876806)
i mean obviously russia is essentially a modern war economy, in every war economy ever a ton of enterprises cease to exist