In Russia, shopping center owners are in danger of bankruptcy due to the interest rate increase by the Central Bank. In an interview I had with the newspaper about this issue, “Kommersant” said Pavel Lyulin, Deputy Chairman of the Association of Shopping Centers.
According to him, after the recent increase in the interest rate of the Central Bank, many banks reported to shopping center owners a significant increase in the cost of loans issued to them. The situation is further complicated by the mass departure of tenants and a significant increase in taxes. As a result, the owners of thousands of shopping malls face the risk of bankruptcy.
October 25 Central Bank of the Russian Federation raised The key rate is 21 percent, a 22-year record, explaining this decision by the high level of inflation, which is above the regulator’s forecasts. The Central Bank of Russia announced its decision by saying inflation was above the regulator’s forecast. Current seasonally adjusted price growth rose to 9.8% year-on-year in September, following 7.5% in August. The same measure of core inflation rose to 9.1%, after 7.7% in August.
Previously at the Central Bank of Russia reported About a possible increase in the interest rate in December.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.