The Russians have less to borrow

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www.vsyako.netPhoto: Mikhail Voskresensky / RIA Novosti

The average loan size in the Russian microfinance organizations in the first five months of 2019 has decreased by 3.9 percent compared to the same period last year and amounted to 12 thousand rubles. It is reported RIA Novosti with reference to the MoneyMan.

The company noted that in Moscow the index fell even more — by 5 percent (up to 15,640 thousand). This is due to the lack of income growth and the increased financial literacy of Russians. “In the absence of growth of income of the borrowers prefer to take the minimum amount that they will be able to repay in the near future”, — stated in the message.

Most Russians are resorting to a loan due to unexpected expenses and wage arrears.

Earlier, on 11 June, it was reported that more than half of inhabitants of Russia are experiencing difficulties with repayment of loans. Nine percent of borrowers have overdue payments, 10 percent had at least once to go to Bank requesting loan restructuring or even refused. 14 percent one way or another experienced difficulties with payment of credits.

Russia’s Finance Minister Anton Siluanov said that there are two main factors affecting the index of real disposable incomes: the growth of expenditure on consumer credit and “estimating the shadow economy in the industry.”

Video, photo All from Russia.

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