Government lowers interest rates on loans

Banks Finansy23-07-2009 The government lowers interest rates on loans credit problems in Russia is once again discussed at the highest level. The country's leadership called on banks to lend to industry at 14% per annum. Bankers argue that this refinancing rate should be below 10%. However, as noted in an interview Bigness.ru economist Natalya Orlova, the rate of the Central Bank may indeed sink to that level by late summer. Vladimir Putin at a meeting on the banking system, said that the rate of 14% is quite acceptable for crediting the real sector of the economy. "Banks have increased their capital through subordinated loans from the fund of national wealth, must give credit to the real sector of the Central Bank rate plus 3%. It is now 14% ", - said Putin, whose words are quoted by RIA Novosti. According to the head of government, this level of interest rates in a crisis is quite acceptable. It allows businesses borrowing to continue the implementation of development programs, and banks - to obtain normal profits. " Earlier, the situation with the lending premier complained Governor of the Yaroslavl region Sergey Vakhrukov.