Anton Beloglazov: "May holidays predict more vacation, but no major impact on the economy"

"Thus, continuous vacation for a significant part of the employed people could be up to 11 consecutive days. Among possible effects, the first and foremost is a slowdown in business activity, both due to a decrease in the total number of working days and due to holidays' anticipation of workers during the last week of April and the long post-holiday swing", he said. However, the expert claims that the seasonality of the May holidays does not affect the macroeconomy in the long term. "If seasonality is not taken into account, the economy usually remains at the level of April", he said.

The expert noted that spending on recreation and entertainment is increasing in terms of consumption volume, while mass purchases stimulate retail turnover. According to surveys, the expenses for May holidays will amount to about Rb 23.000 per person.

The expert noted that the May 2025 holidays have a mixed impact on the Russian economy. They temporarily reduce output in the real sector, but at the same time stimulate consumption and services. This results in a mixed effect: on the one hand, a reduction in production, on the other hand, growth in domestic demand.

Thus, Anton Beloglazov emphasized that May holidays will have an impact on various aspects of the economy, but the effect will remain temporary and will not have a major impact on economic growth on the whole.