{"id":100187,"date":"2024-11-10T22:00:01","date_gmt":"2024-11-10T22:00:01","guid":{"rendered":"https:\/\/teknomers.com\/en\/very-happy-for-a-loan-interest-rate-of-17-percent-news-urix-foreign-news-and-documentaries\/"},"modified":"2024-11-10T22:00:05","modified_gmt":"2024-11-10T22:00:05","slug":"very-happy-for-a-loan-interest-rate-of-17-percent-news-urix-foreign-news-and-documentaries","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/very-happy-for-a-loan-interest-rate-of-17-percent-news-urix-foreign-news-and-documentaries\/","title":{"rendered":"– Very happy for a loan interest rate of 17 percent – news Urix – Foreign news and documentaries"},"content":{"rendered":"\n

Valeria Chernigina proudly shows us her new car, a red Chinese-made Changan model. Although the first snow falls this day in Nizhny Novgorod a little east of Moscow, the young woman insists on giving us a test ride. – I have already changed to studded tyres, she says reassuringly to news. Chernigina bought the car from a woman who had won it in a lottery. She had to borrow part of the purchase price, and ended up paying an interest rate of 17 percent. Valeria Chernigina drives her new car. Photo: Jurij Linkevitsj – I know someone who pays 21 per cent, others pay 24 per cent interest. I was very happy to get a loan interest rate of just 17 per cent, says Chernigina. It was possible because the loan amount was made part of her mortgage. The young woman runs a travel agency in Nizhny Novgorod, and is somewhat better off than average. She says that the high loan interest rates are becoming an ever greater burden on people’s finances, and expects that fewer people will be able to afford to borrow money. The central bank fights inflation This year, the price increase in Russia is expected to be 8.5 per cent. That is far higher than the authorities’ target of 4 percent. The central bank is trying to do something about the development. – We have decided to increase the policy rate to 21 per cent. Prices increased in September, central bank governor Elvira Nabiullina said some time ago. This was a new record for the policy rate in Russia. It has been a very long time since it has been at this level. Nabiullina stressed that the state spends too much money, and that it is helping to drive inflation upwards. Nothing was said directly about the war in Ukraine, but it is the defense and the defense industry that have received the biggest budget increases. Food products increase the most In a grocery store in the city of Nizhny Novgorod, customers hunt for eggs that are on sale. Eggs, milk, butter and other basic goods have had a particularly strong price increase. People on the street are unsure whether inflation is really at 8.5, as the government says, or whether it is higher. – That may be true, but possibly not completely, says a woman who only gives her first name, Irina. Irina is unsure whether inflation is at 8.5 as stated by the government. Photo: Jurij Linkevitsj – Prices are increasing for food and clothing, in fact for everything. Also on cars and real estate, says Vladislava. Grocery store in Nizhny Novgorod. Photo: Jan Espen Kruse Others say that they feel the inflation, but that it is not a big problem, since wages are also increasing. Interview monitored A factory in the Nizhny Novgorod region produces electrodes for welding. The factory has around 90 employees and is a relatively small company in this area with a lot of heavy industry. Electrode factory in the Nizhny Novgorod region. Photo: Jan Espen Kruse A production line sends out a stream of welding electrodes that can be a bit reminiscent of large shooting stars. The employees we speak to say they are very satisfied with the workplace. – I like myself very much, I enjoy going to work, says the employee named Tatjana. – Salaries are increasing, my salary has become very good, in contrast to when I started here in 2017, says Anna to news. Anna is employed in the electrode factory. Photo: Jan Espen Kruse A man who does not introduce himself hangs like a shadow over us and listens to everything the employees say. It is not certain that they speak their hearts out under such conditions. Struggle for labor In Nizhny Novgorod, much of the industry is linked to defence. These companies receive large subsidies from the state and can offer higher wages and better conditions than other companies. Many are tempted by this, which leads to a deficit of workers in other businesses. According to public statistics published barely a year ago, there was a shortage of almost 5 million workers in Russia. It has hardly improved over time. This development is also helping to drive up inflation in Russia. The management of the company we visit must participate in the competition for labour. – We analyze the competitors and see what salaries they have. Then we increase our salaries, so that we attract the best professionals, says deputy director Timur Aliev at Elektrod-Bor. Deputy director Timur Aliev at Elektrod-Bor. Photo: Jan Espen Kruse – But surely others also have this strategy? – We don’t know that, but so far we have won the competition, he says. Hoping for a new car The drive with Valeria Chernigina on the smooth fresh snow has gone without any problems. The young woman expects that prices in Russia will continue to rise. But she hopes that wages will follow suit. And Chernigina has already started thinking about buying a new car. – If this car behaves well, I might buy a new Chinese car in a couple of years’ time, she says. But that probably presupposes that the Russian central bank manages to fight inflation, and that the key interest rate does not become even higher. Published 10.11.2024, at 22.39
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Valeria Chernigina proudly shows us her new car, a red Chinese-made Changan model. Although the first snow falls this day in Nizhny Novgorod a little east of Moscow, the young woman insists on giving us a test ride. – I have already changed to studded tyres, she says reassuringly to news. Chernigina bought the car […]<\/p>\n","protected":false},"author":1,"featured_media":100188,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[204,203,7782,1539,4433,16,1317,2271,202],"class_list":["post-100187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-documentaries","tag-foreign","tag-happy","tag-interest","tag-loan","tag-news","tag-percent","tag-rate","tag-urix"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/100187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=100187"}],"version-history":[{"count":0,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/100187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/100188"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=100187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=100187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=100187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}