russian Companies Are Switching to Survival Mode

The rf’s economy is entering a phase of prolonged recession: companies are increasingly reporting financial difficulties, cutting costs, and postponing investments. Judging by the results of the third quarter of 2025, the main problems for businesses were non-payment by counterparties, declining demand, and a lack of working capital.

38.9 % of companies reported delays in payments from partners, compared to 25 % a year earlier. A decline in demand for products and services was reported by 34 % of companies (30 % in the second quarter), and a lack of working capital – by 32.4 %. Logistical difficulties were experienced by 15 % of respondents, compared to only 10 % a few months ago.

Most companies are responding to the crisis by cutting costs. 68 % of companies are taking “optimization” measures, mainly by reducing administrative expenses (80 %) and service costs (37 %). Another 15 % have cut back on investment programs, postponing any expansion plans.

When assessing the overall state of the economy, businesses describe the situation as “complex and  disturbing”. Even the predicted reduction in the discount rate in 2026 is not seen as a guarantee of an improvement in the business climate.

Instead of development, russian companies are focusing on survival and maintaining financial stability. The increase in the share of non-payments – from 25 % to 38.9 % – indicates a local recession in the corporate sector, which in the future will grow into a systemic crisis.