Russian personal debt at an all time high

RUSSIA / FSU POLITICS - In Brief 27 Mar 2021 by Alex Teddy
The percentage of personal income that Russians are spending repaying their debts is at its highest ever level. The Central Bank of Russia published this datum on March 26. The everage debt burden rose to 11.7% of a person's income. The debt burden has been growing for years. The pandemic is the principle reason for the recent rise. The reduction in interest rates has slowed the rate of debt growth.Russian personal income fell 3.5% in 2020.The number of mortgages increased substantially in 2020 due to lower interest rates and government support. Mortgage repayments comprise 20% of debt repayments.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.