Russian banks last month issued 770 thousand non-earmarked consumer loans (cash loans) totaling 217 billion rubles, follows from the preliminary data of the joint credit Bureau (OKB).
In comparison with April (665 thousand loans) number of loans increased slightly, while the volume of lending is not changed. “It happened because of the decline in the average size of loans from 328 thousand to 282 thousand roubles”, — is emphasized in the review Bureau.
Commenting on the findings, Director General of OKB Arthur A. suggested that “the sharp decline in the average size of cash loans can be due to two factors.” “First, was influenced by the reduction in the proportion of loans in excess of 1 million rubles, including especially large that borrowers to a fall in business activity could in fact take on the business development under the guise of consumer loans”. “Second, banks have adjusted their credit policies — they take into account the fact that real incomes have declined significantly and borrowers can no longer carry such a high credit load,” — says the expert.
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 Prime Minister Mikhail Mishustin, “it’s kind of the anti-crisis plan, a set of operational activities that are necessary for stable socio-economicdevelopment”. “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 economic support measures (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.
on 27 may, the Minister of economic development (MED) of the Russian Federation Maxim Reshetnikov said that the total cost of anti-crisis measures to support the Russian economy, aimed at combating the impact of the pandemic coronavirus has reached 3.3 trillion rubles.
2 Jun Mishustin has presented to Putin a national plan for the recovery of the Russian economy in 2020-2021 years, saying, in particular that the cost of the plan will be about 5 trillion rubles.
Stories about how you tried to get help from the Russian state in terms of coronaries and what came of it, email it to COVID-19@rosbalt.ru
