Do Russian people start to trust banks?
The All-Russian Public Opinion Research Center (VCIOM) has conducted a public opinion poll, according to which results, the majority of Russians (52%) believe that now it is better to deposit available funds into a bank account (41% of Russians in January)ю
At the same time, 29% adhere to the opposite point of view.
According to the latest survey, 66% of respondents said that it is necessary to reduce daily expenses. 21% consider it expedient to spend their salary or pension.
Only every tenth respondent (12%) think that now is the right time for large loans. 58% indicate that they are not ready to make major purchases at the moment, only a quarter of respondents (24%) adheres to the opposite opinion.
"We see that the formerly completely" irreconcilable "position of the society on large expenditures and loans has begun to soften. But at the same time, the common desire to save remains," TASS cited the VCIOM expert Oleg Chernozub as saying.
An associate professor of Stock Markets and Financial Engineering of RANEPA, Vasiliy Yakimkin, speaking to Vestnik Kavkaza, said that the competent policy of the Bank of Russia and the improvement of the economy in Russia as a whole helped to improve the attractiveness of bank deposits for Russians. "Both the country's president and the prime minister stressed in their recent statements that the economy is beginning to emerge from the recession and growth is possible in the future. The Ministry of Economic Development forecasts up to 2% growth this year, the WB and the IMF are also improving their forecasts on Russia's economy and banking system," he said.
Vasily Yakimkin drew attention to the fact that these statements are quite true. "In general, the situation is gradually changing for the better, and investors see it, therefore, they are becoming more active," the economist said.
In turn, the desire of 66% of Russians to reduce their daily incomes demonstrates the negative side of the state of Russia's economy - an extremely low consumer demand. "In order to increase the consumer demand in Russia, they need to reduce the interest rate on credit loans. While there is no domestic demand, it's up to export development," the associate professor of Stock Markets and Financial Engineering of RANEPA warned.
Professor of the RANEPA faculty of Finance, Money Circulation and Credit, Yuri Yudenkov, in turn, noted that bank deposits are the most reliable way to generate income from available money at the moment. "Banks give a sufficiently high interest, except for business, a bank deposit brings the greatest revenue with the greatest reliability. That is, there is no place for citizens to invest money, except for banks," he said.
At the same time, the trend towards saving money is unusual. "During all three years of the crisis, the population have saved money, and this year everyone was a little tired of waiting and there was a desire to spend, which is evident in buying tours and cars. In these conditions, the results of the VCIOM poll are noteworthy because citizens continue to behave cautiously, preferring to save money. For me, it is a very unexpected result," Yury Yudenkov admitted.
The desire of 66% of respondents to cut costs is explained by the continued fall in incomes of Russians. "Relative the impoverishment of the population suggests that the number of purchases is declining: as incomes are declining." the professor of the RANEPA faculty of Finance, Money Circulation and Credit concluded.