This step should help maintain the pace of development of residential construction, as well as support the retail trade and tourism industry, which is of particular importance in the context of economic sanctions restrictions.
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As noted in the Government's order, the market rate for developers may now be 27-28%, while the variable interest rate is approximately 20% per annum. The floating rate is calculated according to a certain formula and, as a rule, is linked to the rates on the interbank market.
In June 2024, the State Duma approved amendments to some existing legislative acts providing for a reduction in the use of floating interest rates on loans. These amendments provided the Government with the opportunity to establish areas of activity where these restrictions do not apply.
Earlier, we reported that the Central Bank denied information about the accumulation of funds in its accounts, instead of lending to the economy.
