Despite the increase in the key rate of the Central Bank of the Russian Federation, a sharp reduction in corporate lending is not expected.
However, VEB.RF chief economist Andrey Klepach warns that in the future this could lead to an increase in non-payments and a decrease in investment activity.
According to the economist, the main problem for most businesses is that they simply need to survive, writes RBC .
In an unstable economy, companies are forced to do everything they can to maintain working capital, pay salaries, and fulfill other obligations.
This problem has become especially acute for companies working with state defense orders.
Klepach noted that such companies are not sensitive to changes in lending, since it is important for them to take out a loan in order to fulfill their contractual obligations.
In the event of failure to fulfill state defense orders, businesses may face serious criminal consequences, and this puts them in a hopeless situation.
Klepach explained that the tightening of the Central Bank's monetary policy will not result in a reduction in lending in the near future.
