Russians will soon feel the impact of sanctions/collage 24 channel
Russia is a very large country with an extremely low standard of living among the population. In order to further reduce that standard of living, a serious period of time must pass, which will hit jobs.
Oleg Pendzin, executive director of the Economic Discussion Club, told Channel 24 about this. He also noted that Russia still has reserves in order to fill the domestic market.
Yes, many enterprises have curtailed their activities in the occupying country, but funding for the unemployed continues within the federal budget, the economist notes.< /p>
“At least another 3-4 months should pass before the average Russian citizen begins to experience discomfort,” adds Pendzin.
Only in this case, the refrigerator will start to win over the TV, but today everything is the other way around – while the TV is winning over the refrigerator, – the expert says.
There was a default in Russia – what does it change
actually declares that either there is nothing to pay off debts, or there is no such possibility. In the case of Russia, this is the second option. Unfortunately, Russia has enough money to pay its debts thanks to its oil and gas windfall. But the sanctions do not allow the aggressor country to do this. So technicallyRussia has experienced a default on foreign obligations.
What does this mean? In the short term, not so much. After all, thanks to the sanctions, Russia already experienced many of the traditional consequences of a default when it invaded Ukraine on a full scale. The aggressor country was disconnected from foreign capital markets, its banking system was blocked, its ratings fell, and investors began to leave the country.
In the long term, Russia is in for big problems . In particular, we are talking about:
- ruble depreciation;
- rising prices for goods and services;
- a significant increase in the cost of loans;
- delay in the payment of pensions, social payments and salaries to state employees;
- all these payments will not be reviewed;< /li>
- supply problems, lack of goods.
Briefly about how Russia reached default
- On June 26, the grace period for Russia's payment ended interest to foreign creditors in the amount of $100 million. Such a delay means that Russia has defaulted on its external debt.
- At the same time, the press secretary of the Russian president, Dmitry Peskov, has already managed to voice the Kremlin's position on this matter. He said that there was no default, because they made payments, and the fact that the money did not come is not their problem.
- Investment banker Sergey Fursa said that a default is a terrible threat for any economy. He noted that while this default is taking place at the level of trifles, however, the Russians are reacting very sensitively to it.
