Russian Economy and Company Performance: RSPP Monitoring Results for Q2 2026

The RSPP's Q2 2026 monitoring reveals that non-payments by counterparties have re-emerged as the primary constraint on business activity, cited by nearly 40% of companies (+5.6 p.p.), while reduced demand falls to second place at one-third of respondents. A shortage of working capital affects 26.9% of organizations (+4.6 p.p.). Supply disruptions for raw materials and components rise sharply by 12.5 percentage points to 23.1%, likely reflecting refinery outages and fuel shortages. Access to borrowed funds improves, with the share citing this constraint falling by 8.1 percentage points to approximately 15%. Production volume reductions and investment program cuts both increase, while sanctions pressure eases notably, with the share citing this factor halving from 16.5% to 9%.

In response to current conditions, an overwhelming 86.3% of companies plan to reduce costs, up sharply from 65.4% in Q1. The share planning price increases more than doubles to 26%, while digital technology implementation gains 10 percentage points to 27.4%. Among cost-cutting firms, 83.6% target administrative expenses, and nearly half (46.3%) plan personnel cost reductions—almost double the previous quarter's figure. Hiring freezes emerge as the primary tool for personnel optimization, cited by 71.9% of this group, while 28.1% consider workforce reductions and 20% plan wage or benefit cuts. Approximately one-quarter of companies intend to switch to cheaper raw materials, while another quarter plan to reduce social and charitable budgets.

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