the Russian banks in January—June this year, more than halved the growth rate of retail lending — 4.1% 9.7% a year earlier. Such data today in the Federation Council led by the Chairman of the Central Bank Elvira Nabiullina.
however, she pointed out that in the first half of 2019 was recorded higher growth in consumer lending, the regulator has made efforts to cool the segment and to prevent the emergence of a “bubble” in this market, reports “Finmarket”.
Recall also that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Wave of devaluation held from 7 to 9 March and 18 March.
Reacting to the situation, the government and the Bank of Russia has prepared a plan of priority measures for the sustainable development of the economy. As explained by the Prime Minister of the Russian Federation Mikhail Mishustin, “it’s kind of the anti-crisis plan, a set of operational activities that are necessary for stable socio-economic development”. “We will focus on supporting industries that were in a difficult situation, but primarily on the support of the people and providing them with goods of first necessity”, — stressed the head of the Cabinet of Ministers.
In particular, it has been announced vacation credit for small and medium business and people who find themselves in a difficult situation, promised financial assistance to affected industries, provided soft loans, including the payment of salaries, reduced employers ‘ social security contributions, given the postponement of rent and tax payments, excluding VAT, imposed a moratorium on bankruptcy.
Later, it was adopted a second package of measures to support ekOnomichi (soft loans for working capital for strategic enterprises, non-repayable financial assistance to small and medium businesses, including on the issue of salaries and financial assistance to regions and airlines).
for its part, the Central Bank has approved measures to support citizens, the economy and the financial sector in a pandemic COVID-19, and then supplemented them with new packages.
may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19. He also announced the beginning of implementation of the third package of anti-crisis measures, under which the state, in particular, will increase targeted support for families with children, small businesses, individual entrepreneurs and self-employed. In addition, Putin instructed the government to prepare a national plan for long-term development of the economy, the recovery in employment and incomes.
2 Jun Mishustin presented to the President a national plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. On 19 June the head of state was sent the updated draft of the plan.
July 2, Deputy Minister of Finance of the Russian Federation Vladimir Kolychev said that the total cost of the measures (the bailout package), aimed at combating the spread of coronavirus infection in Russia and mitigating economic impacts from restrictions imposed, estimated to be worth about 4 trillion rubles. According to him, the main focus of the budget measures were made on several fronts: strengthening health systems, supporting citizens and businesses, the balancing of regional budgets.
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