Alexander Murychev, Chairman of the FBA EAC Board and Vice-President of RUIE, Participated in the General Assembly of GIM-Unimpresa

On December 10, 2025, the Moscow Chamber of Commerce and Industry hosted the General Assembly of GIM-Unimpresa, the Association of Italian Entrepreneurs in Russia. The event was attended by Vittorio Torrembini, President of the Association, Antonio Fallico, Chairman of the Board of Directors of Banca Intesa and President of the Let's Explore Eurasia Association, Philippe Pegorier, Vice President of the Association of European Businesses, Andrey Klepach, VEB.RF Chief Economist, and Alexander Murychev, Chairman of the FBA EAC Board and Vice-President of RUIE.

In his address, at the request of the organizers, Alexander Murychev provided an assessment of the current economic situation in Russia, the status of the business environment, and a forecast for the development of the economy and financial sector for 2026.

Alexander Murychev has stated that structural transformations are ongoing within the Russian economy. Despite a slowdown in business activity, the fundamental macroeconomic indicators continue to support further development, while the banking sector operates stably, having recorded a profit of 3.5 trillion rubles.

Simultaneously, large enterprises possessing substantial working capital and proprietary funds adhere to a prudent, conservative investment strategy. The challenges associated with elevated borrowing expenses are most prominently impacting small and medium-sized enterprises, for whom the financial strain will intensify in 2026, notably due to the anticipated increase in the value-added tax (VAT) rate to 22%. This modification will result in a direct augmentation of the fiscal burden on economic output generation.

The significant reduction in the simplified taxation system threshold from 60 million to 20 million rubles will increase administrative burdens. The introduction of an advance VAT on imports may partially immobilize the working capital of SMEs. Murychev emphasized that these factors should be considered in the financial planning of small and medium enterprises for 2026.

Additionally, Murychev noted the high level of long-term cooperation and mutual trust between RUIE and the GIM-Unimpresa Association, stressing the importance of continued bilateral dialogue.