Russian Companies Are Massively Facing Lack Of Funds
- 20.05.2026, 10:47
There's not enough money even for current expenses.
More than half of Russian companies faced cash gaps in 2026. A shortage of funds for current expenses was reported by 53% of organizations, with the problem being new for 27%. This follows from the Aktion Finance survey, the results of which are published by "Vedomosti". The survey involved 527 respondents from various industries - from trade and agribusiness to IT and heavy industry. Most companies (58%) have an average annual turnover of up to 1 billion rubles, 32% - from 1 billion to 15 billion rubles, and 10% - from 15 billion to 1 trillion rubles.
The most frequently faced with a shortage of working capital were companies in the oil and gas and other raw materials sectors, wholesale and retail trade, and heavy industry. In the first four months of 2026, 43% of survey participants saw their revenues decline compared to the same period last year. For 16% of respondents, it fell by more than 20%, and for 13% it fell between 10% and 20%. Almost a third of respondents kept the index at approximately the level of 2025, 26% of companies recorded revenue growth.
To cover the lack of working capital 34% of respondents applied to banks for short-term loans. Of these, 19% received approval, 10% are waiting for a response, and 5% were denied credit. A significant proportion of companies sought funds in alternative sources: 24% noted that the owner had to invest personal funds, 11% turned to private investors, another 3% - in microfinance organizations.
The increase in cash gaps is due to rising costs with a simultaneous drop in demand, says the president of "Opora Rossii" Alexander Kalinin. Companies have faced a growing tax burden and an increase in non-payments by counterparties. In particular, state-owned companies have been delaying payment for contracts since last year. At the end of 2025, this has become the main limitation of activity for 42% of organizations, the survey of the Russian Union of Industrialists and Entrepreneurs (RSPP) showed.
Businesses also began to receive more frequent refusals for revolving credit, says Vice President of the Chamber of Commerce and Industry (CCI) Elena Dybova. According to her, banks have switched to a "savings model" and because of the high risks do not want to work with microbusiness, and often with larger companies. At the same time, revolving loans remain expensive, despite the reduction of the key rate, because banks see the risks of non-repayment in a number of clients and increase the interest rate, and in some cases simply reject applications, added Kalinin from "Opora Rossii".