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8.1.2 Loans
The Russian central bank is worried about mounting household debt, which is now at 9.9%, close to its peak in 2014 of 10.4%, Yelizaveta Danilova said on March 29. “Non-secured lending has been growing fast in the last few years, annual growth rates reached 23.7% as of March 1 but we can say that a certain slowdown started last month, the annual rate amounted to 20.3%,” Danilova said. “We are seriously concerned with this growth, with the fact that the debt burden can reach the peak of 2014 already this year and we are taking steps,” she said.
58 RUSSIA Country Report April 2019 www.intellinews.com
