Mass business closures predicted in russia due to budget crisis - CCD

The aggressor country of russia is preparing for a large-scale wave of closures of small and medium-sized businesses. This is a consequence of the budget crisis caused by the war with Ukraine. It was reported by the Center for Countering Disinformation (CCD) at the National Security and Defense Council of Ukraine.

So, it is reported that against the backdrop of a VAT increase and restrictions on access to the simplified taxation system, financial analysts predict the closure of up to 30% of companies operating in the small and medium-sized business sector in the russian federation.

"Looking for ways to replenish the deficit budget, Putin's government is playing an extremely dangerous game. Yes, in the short term, there will indeed be additional tax revenues, but in the end, the state will lose much more: a business that closes down does not pay taxes at all," the Center noted.

The Center added that in the face of rising military spending and stagnant economy, the kremlin is once again choosing the easiest way - to shift the financial burden onto citizens and businesses.

"While propaganda tells how Russia is 'steadfastly withstanding sanctions' and draws 'Putin's economic miracle', in reality, the economy is becoming increasingly depleted," the Center summarized.

As the Ukrainian News agency earlier reported, according to the CCD, russians are being lured to war with offers to work at the fictional Luhansk Nuclear Power Plant.