Putin says high interest rate allows Russians to save in banks

Russian President Vladimir Putin said the high interest rate hinders economic growth but allows Russians to keep their savings in banks. author DEA News.

Thus, the head of state announced the increase in the key interest rate in Russia.

“High interest rates protected people’s savings in the Russian banking system. Of course, for business representatives, it’s understandable that a high interest rate is putting pressure on the economy. st. Speaking at the plenary session of the St. Petersburg International Economic Forum (SPIEF), this is still a plus for citizens in most cases,” said the head of state.

According to him, inflation in Russia is still in double digits. But the country has already indexed social payments and pensions, raised the minimum wage level and living wage. Thus, the authorities protected the Russians, who were in the worst situation.

Putin before 17 June named The insane and thoughtless Western sanctions on Russia. He stressed that “the amount and speed of stigma” restrictive measures are not precedent, the West’s desire to “rush” and crush the Russian economy.

Source: Gazeta


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