As fallout from the coronavirus pandemic continues to create problems the Russian economy wil become unprofitable when the dollar hit 80 rubles, experts at the HSE Development Center wrote in a study, according to Nezavisimaya Gazeta.
On the other hand, experts interviewed by the newspaper noted that some entrepreneurs might see a window of opportunity even in these tough times.
“Fluctuations in the exchange rate directly affect current costs for purchases of imported raw materials, components and semi-finished products, calculated in rubles,” the HSE study said. According to the report, in addition to manufacturing industries, heavily dependent on imports, production of such consumer goods as sausages, tea, coffee, textiles, electrical equipment, household appliances, and motor vehicles is also at risk.
In total, about 90 industries could face serious economic consequences from the crisis, the study reported.
Meanwhile, in certain niches, the present situation may become an incentive for further development. Experts Interviewed by Nezavisimaya Gazeta, named the types of businesses that may profit off the current uncertain times.
“Obviously, this would be businesses focused on serving people who are forced to restrict communication and contact. For example, taxi services and food delivery. These are also various options for a business selling Internet services,” Alexander Osin, an analyst with Freedom Finance, told the newspaper.
On Wednesday, the Association of Internet Trade Companies (AKIT) said that according to its forecast, in 2020, the market for online delivery of products from shops and restaurants might double, reaching 248 billion rubles ($3.2 billion).
The current quarantine regime as a way of life increases demand for online entertainment and educational content, hobby goods, delivery and communication services, the newspaper wrote.
“Now food retail and pharmaceuticals will have local support. People around the world stock up on food and medicine in case a quarantine is introduced, and even in places where it is introduced, people are allowed to go to grocery stores and pharmacies,” Vyacheslav Abramov, Director of BCS Broker’s sales office, told the newspaper.