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Story summary
- Russia's economy is under severe strain due to sanctions and declining revenues, with the Nizhny Novgorod region as a key industrial hub.
- Local businesses report significant drops in investment and production.
- Major state companies have over $1.3 billion in unpaid invoices.
- The regional government expects a budget deficit of $387.6 million this year.
- Economic pressures could trigger about 20,000 job losses as borrowing costs exceed 20%.
