Russian firms hit record 9 trillion roubles in overdue debt

Overdue debt among Russian companies reached 9 trillion roubles at the end of May, according to Rosstat. It rose 2.6% in a single month and 16.9% since the start of the year. The share of overdue payments in total business receivables climbed to 6.7% from 6.2% at the start of the year, a trend Russia's central bank attributes to payment delays between counterparties.