Financiers were distressed by the idea of Putin to support the economy

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www.vsyako.netPhoto: Maxim Shemetov / Reuters

Financiers upset some of the ideas of the President of Russia Vladimir Putin to support the economy in a pandemic coronavirus. About this newspaper “Vedomosti”.

“A tax on deposits is a bad idea, especially after the reduction of the key rate of the Central Bank. This will spur demand for the currency: people will take money out of banks and buy foreign currency, lending to the US and the EU”, — said the head of information-analytical center “Alpari” Alexander Razuvaev.

The same opinion analyst of Raiffeisenbank Denis Poryvai. He believes that the introduction of the 13 percent tax on deposits may lead to transfer money from ruble deposits to foreign currency accounts “Poste restante” to protect against the risk of ruble depreciation. Also, according to Breaking, bonds and Eurobonds there is a risk that investors will ask a premium for forgone because of the tax revenue, so the bond yield will be higher, and paper — less. In addition, some investors may shift to less risky foreign bonds, explained the expert.

Financiers are disappointed and increasing the tax rate on output abroad income to 15 percent. According to EY partner Marina Belyakova, this will further reduce the attractiveness of foreign institutions in countries with which the amended agreement. Director of tax and legal Department Deloitte Oleg Troshin, in turn, considers that if countries do not agree and the agreement would have to cancel, foreign business will have to pay taxes both in Russia and in other States.

On measures to support the Russian economy in the period of the pandemic coronavirus Putin announced Wednesday, March 25. He also instructed to give the Russians social benefits in an expedited manner and demanded to prevent the surge in unemployment.

Video, photo All from Russia.

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