Russians’ increasing tendency to save in the face of high deposit interest rates may negatively affect economic growth in the country. Olga Belyaeva, Associate Professor of the Department of Regional Management at RANEPA, Candidate of Economic Sciences, mentioned this in one of her comments. “Federal Press”.
According to him, although savings accumulation helps replenish the state’s reserves and stabilize the economy in the long run, excessive accumulation in a weak demand environment has negative consequences.
“The decrease in consumer demand combined with the increase in savings can negatively affect the production of goods and services, which can affect the competitiveness of businesses, especially in the field of small and medium-sized enterprises, and contribute to a general slowdown. in economic growth,” the expert emphasized.
Belyaeva noted that the task of the authorities is to maintain the correct balance between consumer demand and savings to ensure sustainable economic development. “The main task of the government is to maintain the right balance between savings and consumer demand for sustainable economic development of the state,” he concluded.
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