In the fall the MAYOR expects a further acceleration of lending growth

© RIA Novosti / Alexei Druginderal in fotomancer of economic development of Russia Maxim Oreshkin. Archival photoIn the fall the MAYOR expects a further acceleration of lending growth© RIA Novosti / Alexei Druginderal the image Bank

In the autumn the Ministry of economic development expects a further acceleration of lending growth in Russia, told reporters the head of the Ministry Maxim Oreshkin.

«The credit cycle begins to recover, we expect the active acceleration of lending activity in the autumn months… We expect further acceleration of retail lending, mortgages. Investment, corporate lending is starting to recover and goes in the positive region, here we also expect a positive dynamics,» — said the Minister.

According to Oreshkin, the Ministry also expects the fall of a significant reduction in mortgage rates amid excess liquidity from banks.

Earlier, the MAYOR in the report «the economy in July 2017» noted that in the second quarter of 2017, the average monthly volume of newly issued mortgage loans, cleared of seasonality, increased by 14.9% compared with the first quarter and reached levels 2014.

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