… Compared the situation in the Russian economy with the situation in the United States in the early 1980s

© RIA Novosti / Alexei Danceparty in fotomancer economic development of the Russian Federation Maxim Oreshkin. Archival photo… Compared the situation in the Russian economy with the situation in the United States in the early 1980s© RIA Novosti / Alexei Danceparty the image Bank

The Minister of economic development of the Russian Federation Maxim Oreshkin compared the current situation in the Russian economy with the development of the American economy in the first half of 1980-ies, reported the press service of the MAYOR.

«… Compared the current situation in the Russian economy with the development of the American economy in the first half of 1980-ies, when the U.S. had achieved low and stable inflation, and this opened the way for positive credit cycle, which lasted for 27 years» — said in a release.

He noted that, based on key indicators, the economy is stable, inflation according to the latest data was at the level of 3.3%. It is expected that in the next three years economic growth will not be below 2%, inflation is at the target level which was designated by the Central Bank.

«The total debt burden in the Russian economy is quite low. And we can expect a long credit cycle. Here the problem is the government and the Central Bank to make the credit cycle had been positive for economic growth. This means more concentration on the corporate and investment lending, development tools such as a mortgage,» — are reported words of the Minister.

According to the head of the MAYOR, the government is already implementing a number of measures aimed at supporting investrazvitie. These include a new program for project financing, spot removing problems faced by investors, the programme «infrastructure mortgage».

The combination of the credit cycle, supporting investment in infrastructure, growth of stability from both macroeconomics and microeconomics will form a solid basis for sustainable GDP growth, says Oreshkin. He also noted that those companies that invested in 2014-2015, are now in a favorable position from the point of view of future competition, as their investments now end up with specific industries, and they can fully take advantage of the economic growth which began in Russia. Thus, according to the head of the MAYOR, to invest it’s not too late.

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