the Bank of Russia expects that the dynamics of retail lending in 2020 would be zero or negative. This was stated by the head of the Central Bank Elvira Nabiullina at the conference, answering the question of “the Russian newspaper”.
“Fold decline in lending now and as out of the crisis we see. In General, according to our estimates, retail lending to be around zero percent in the negative zone. The mortgage will grow. According to our estimates, about 8-10% this year, thanks to the measures taken by the government subsidized mortgage”, – said Nabiullina.
According to her estimates, the decline in consumer credit in 2020 will be “2% or a little more,” and the results automobile loans could fall by 10%.
