Industrial and export sectors of the Russian Federation have entered the zone of maximum bankruptcy risk
As of the end of 2025, the corporate sector of the Russian Federation shows a further deterioration in financial performance, indicating growing imbalances in medium and large companies. The number of loss-making enterprises has grown to 18,200, which is 16% more year-on-year. Their total losses reached $97.3 billion, which is 8.1% more than a year earlier.
The highest concentration of problem enterprises was recorded in the coal mining, coke chemistry, metallurgy, tobacco and leather industries. At the same time, payment discipline is deteriorating, with wage arrears in particular on the rise.
Overdue wage arrears at the end of December 2025 amounted to $26.2 million. The figure rose by 14.5% over the month and jumped by 130% over the year. Of this amount, 22.1 million US dollars is accounted for by debts caused by a lack of own funds of enterprises, which directly indicates liquidity problems.
The highest levels of wage arrears were recorded in construction, which accounts for 23.7% of debts, in healthcare and social services, where the share is 16.6%, and in manufacturing, with an indicator of 15.4%.
The article notes that, amid sanctions pressure and the Russian Central Bank's tight monetary policy, large businesses are facing shrinking markets, declining demand and falling purchasing power. In the short term, this means an increase in bankruptcies and a further weakening of the corporate sector.
The forecast for 2026 also remains negative. Market contraction and tight financial conditions will keep pressure on companies, profitability will decline, and bankruptcy risks will increase, primarily in the industrial and export sectors.
