Russian billionaire Oleg Deripaska called a situation with a statement by the head of the Central Bank Elvira Nabiullina about the intention of the regulator to stimulate the technological and environmental transformation of the national economy. In his Telegram Channel, he called on a new composition of the State Duma to begin fighting the Central Bank and “not allow himself to led themselves to lobbyists” from there.
Nabiullina in the International Bank Forum promised that the Bank of Russia will revise the regulation approach to achieve changes in the lending structure for the modernization of industry. According to her, the banking sector, as the main source of lending, should play a leading role in this matter.
In turn, Deripaska recalled that in the proposed Central Bank of the monetary policy for the coming years, an increase in key rates by 1.5 percentage points is not excluded. Such tightening will make more expensive loans for business.
According to the billionaire, the main source of financing around the world in the mid-19th century is the debt and stock markets, and not banks. Meanwhile, the Central Bank of Russia, which received the functionality for their development, did not cope with the task. Deripaska is confident that the debt market in the country was to be five or six times the current one. The businessman suggested that the leadership of the regulator fears the changes in the law on the Central Bank of the Central Duma, and therefore is trying to file its position more profitable.
Deripaska is one of the most consistent critics of the Central Bank’s policy, especially on the issue of increasing the key bet. In his opinion, such actions are a subservation of the foundations themselves for the growth of the national economy, because they provoke stagnation, they give to revive economic growth, support employment and overcome a long-term fall in the incomes of citizens.
At the last meeting, the Central Bank once again raised the key rate to 6.75 percent. Nabiullina explained this decision to continued growth of inflation, which is already almost twice as high as the target. At the same time, she did not exclude that to overcome the problems, the bid will have to raise up to 7-8 percent.