Belousov announced one of the main threats to the Russian economy 15:18

The sharp rise in the key rate of the Central Bank of the Russian Federation from 7.5 percent to 16 percent in the last six months is one of the main threats to the Russian economy. As a result, the financial burden on business and the federal budget may increase significantly, said First Deputy Prime Minister of the Russian Federation Andrei Belousov. Her nail Kommersant’s newspaper.

“Simple arithmetic: the increase in the key interest rate from 7.5% to 16% per annum multiplied by 14 trillion rubles – about 1.1 trillion rubles,” Belousov emphasized.

According to him, a more than twofold increase in the key interest rate not only leads to “certain difficulties” for Russian imports, but also affects all state-subsidized loans (on preferential terms, at a rate below market rates). These constitute 14 trillion rubles of the 106 trillion ruble loan portfolio in Russia.

As a result, the authorities have two options for possible actions: either allow the financial burden on the budget to increase significantly, or cut loans. According to Belousov, the Council of Ministers must continue to support entrepreneurs.

“If you calculate carefully, the need for additional (budget) costs will be about 400-600 billion rubles per year,” the First Deputy Prime Minister summarized.

15 December Central Bank raised The key rate increased by 100 basis points to 16% for the fifth consecutive year. The regulator explained its decision with inflationary pressure.

Former Central Bank Deputy Governor Zabotkin didn’t ignore it Reduction in interest rates in 2024.

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Source: Gazeta

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