Part of children’s allowances proposed by Russian President Vladimir Putin in an effort to support during a pandemic COVID-19, Russians spent on debt repayment on the microloans. This writes the RBC citing data from the payment service CloudPayments.
Intelligence services have studied the momentum 133 microfinance institutions (MFIs) issuing and receiving loans remotely, and there is a correlation between the amount of the repayment of micro-credits and payments to government financial assistance to the citizens. Since the beginning of April after the announcement of the mode of isolation, the volume of debt repayment has sharply decreased and started to increase only in the second half of June, when the citizens began to receive a lump-sum children’s benefits of 10 thousand rubles.
in addition, the company noted that in the days when aid from the state received a large number of Russians, returns microloans increased sharply. This correlation confirmed the largest Russian MFIs.
the same pattern was observed in early July, coinciding with the second wave of benefits. From 29 June to 5 July, the volume of returns was only 9% lower than the baseline, and a week from 6 to 12 July — 8%. For comparison, the worst collection of debts was observed in the period of may holidays and the beginning of June, when payments decreased by 20-30% from the baseline weeks. The peak of repayments was recorded July 1, when began the second phase of payment to the Russians of the benefits.
Earlier in the state Duma proposed to hold in August, the third phase of payment of allowances for children 10 thousand per child from 3 to 16 years and the second for children up to three years. This initiative is already supported by the children’s Ombudsman Anna Kuznetsova, noting that after the pandemic, many families are in tough financial situation.
see also: unemployment Benefits are proposed to increase to half of the lost earnings.
