Page 16 - RusRPTSept21

Still Peach says that retail loans are also not a danger yet as the share of loans going to those with the highest debt-to-income ratio has increased only slightly, non-performing loan ratios have stabilised, and unsecured consumer loans remain a smaller share of banks’ assets than mortgages (3%) so the threat to the banking sector is low.
Loan growth should also be cooled by the CBR’s dramatic full percentage point rate hike in August that will make the cost of borrowing higher and so dissuade more people from borrowing.
2.5 Corona deaths pass 800 per day Rubicon
Russia recorded 815 deaths on August 10, setting a new record for the number of coronavirus related deaths in a single day, BMB Russia reports.
August 11 was the first time Russia recorded more than 800 deaths, seeing 808 people succumb to the virus. Having tied the previous record of 799 deaths four times, analysts were beginning to speculate as to why 800 seemed like a medical Rubicon -- implying that perhaps the numbers were being fudged.
The country also recorded 22,277 new cases of COVID on August 12, relatively consistent with numbers that have been seen throughout August but down from July’s high of over 25,000 new daily cases.
In great news for Russia, Minister of Health Mikhail Murashko announced that the Sputnik V vaccine is 85% effective against the Delta variant, and over 95% effective at preventing serious illness.
RBC reports that 22.5% of Russians have received at least one dose of vaccine, up from 16.73% in mid July. Chukotka, Belgorod, Chechnya are leading the way, with each having vaccinated between 36 and 38% of their population.
Moscow Mayor Sergei Sobyanin said that 4.5mn Muscovites have received at least one dose of vaccine, putting Moscow among the most vaccinated places in Russia as well.
Given the progress, Sobyanin has cancelled the requirement for businesses in Moscow that at least 30% of unvaccinated staff work remotely.
The chief doctor at Moscow’s Kommunarka hospital reports that the country’s healthcare system is ready should there be another wave of coronavirus in the
16 RUSSIA Country Report September 2021 www.intellinews.com