Russia Ukraine war, page-233287

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19/08/24

20:50

Post #: 75275726
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Originally posted by valen1828: ↑

It seems that in looking Russia interfered with mortgage interests rates during covid and after which like here had the opposite effect of making housing more affordable perhaps .Is interesting digging into this because against their reserve banks advice they went ahead anyway inflating the construction sector it seems .

Anyway enjoying the conversation and digging around what the Russian economy does .

After the invasion of Ukraine, Russia’s interest rate climbed rapidly: in 2022 the average rate was 10.6%, in 2023 it was 9.9%. In 2024, analysts predict an average rate of 15.9%. Despite this, the state-backed mortgage rate remained artificially low at 8%.
The program was a major contributor to Russia’s economy. For example, in 2023, about 29 trillion rubles of loans were issued in total (1, 2) — of which 4.7 trillion was preferential mortgages. In other words, without considering any other forms of subsidized borrowing, a sixth of all new loans were issued below market rates. That’s partly why the Central bank was the main opponent of the scheme — such a high level of non-market money hampered its ability to regulate the economy via interest rates, since rises have less of an impact in sapping demand.
This has stopped now .

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Cut off from raising money on the international market predominantly. Oil/gas has large taxes hence weekly seeing atleast one flameball .
the only other way to raising funds is to keep increasing income and business taxes
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