Today, Russian small and medium-sized enterprises cannot obtain loans for the development of their businesses.
This was stated by economist Mikhail Delyagin, according to the DEITA.RU news agency with reference to the Tsargrad TV channel.
According to him, the main reason for this state of affairs is the monetary policy of the country’s Central Bank. As the expert explained, today in Russia there are very high rates on business loans, which directly depend on the value of the refinancing rate.
Delyagin noted that today no production facility can afford to take out a loan from a bank for more than 5% per annum, because it simply will not repay its investments. The rate of return for this type of business is traditionally below this bar, which means it is not profitable.
This situation can only be corrected by bringing the key rate below 3-4% per year, so that commercial banks can provide businesses with cheap loans. Then the economy will begin to grow rapidly, the expert noted. Now its growth is impossible, Delyagin said.
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