Andrei Klepach, chief economist at VEB.RF, predicted a decrease in economic growth from an estimated 2.5% to around 2% for 2025, the best-case scenario. He also revised down the projection for fixed capital investment growth from 1.9% to 1%, attributing these trends to the central bank's elevated interest rates, which hamper investment and economic activity.
Alexander Shokhin, president of the Russian Union of Industrialists and Entrepreneurs, warned that high interest rates are prompting companies to postpone investments until after 2025. He emphasized that more companies are struggling to obtain funds and urged the government to enhance support measures like preferential loans at fixed rates.
Deputy Prime Minister Alexander Novak stated that high interest rates have led to a decline in investment activity, estimating it dropped from 10% in the first half of the year to around 7.8% for the entirety of the year, highlighting the adverse impact of increased key rates on economic growth.
Russian Prime Minister Mikhail Mishustin announced a financial allocation of nearly 2.5 billion rubles (approximately $25.6 million) for preferential loans, noting that some companies would receive a subsidized interest rate ranging from 1% to 5%, aimed at stimulating investment despite the challenging high-interest environment.
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