Today, the Bank of Russia is in a situation where measures to combat inflation may be more destructive to the economy than inflation itself. This was stated by RBC President of Business Russia Alexey Repik.
“I remember the joke where the old man Hottabych caught a goldfish, they look at each other and don’t know what to do because the situation is at an impasse,” he said.
Repik noted that the measures taken by the Central Bank created “great stress” in businesses. He noted that some entrepreneurs are “guaranteed to go bankrupt.” The head of Delovaya Rossiya emphasized that the first signs of the worsening financial situation are already visible: loan installment payments are increasing, but they are “under the guise of restructuring.”
The other day, Deputy Governor of the Central Bank of Russia Philip Gabunia statedIt is stated that Russian banks now “definitely” have sources of income that allow them to pay their customers high interest rates on long-term deposits.
It was previously known how much tax was collected will pay Deposit income of Russians in 2023.