Tuesday, June 19, 2018

Businessmen in Yekaterinburg optimistic about the future

A new report has found that while the current economy in Yekaterinburg is suffering, businessmen see a light at the end of the tunnel.

According to the recently published Grant Thornton's International Business Report, business optimism in Russia dropped in the first quarter of 2011 from 15 percent to minus four percent in the fourth quarter, which was the sharpest drop of the four BRIC - Brazil, Russia, India and China - member countries, RussiaProfile.org reports.

As a result of the drop, Russia ranked fourth on the list for economic optimism, while Brazil ranked first at 74 percent optimism. Indian was second with 58 percent and China was third at 22 percent.

The report found that Moscow, which has seen a recent spate of middle class protests, is less optimistic about an imminent economic recovery than those in the Russian regions.

Businessmen in Yekaterinrburg, the report says, reported 42.5 percent optimism about the future of business while 35.4 percent in Novosibirsk shared the same sentiment. In Moscow and St. Petersburg, only 28.2 reported optimism, while the number dropped to 26.3 percent in Nizhny Novgorod.

A total of 46.3 respondents in Yekaterinburg reported neither optimism or pessimism, according to RussiaProfile.org.