Kirill Chernovol, Researcher of the International Best Practices Analysis Department at the Gaidar Institute, commented on the changes in the mechanism of preferential loans to businesses and assessed their possible influence on borrowers and state budget.
According to the expert, several dozen preferential lending programs are currently in effect in Russia, with such loans being most actively used in agriculture and manufacturing. However, the new approach to subsidies could result in a reduction in budget expenditures while simultaneously increasing final rates for businesses.
"If the new scheme is adopted, it will mean a reduction in the amount of interest rate compensation from the budget. Consequently, preferential loans may become less affordable for borrowers. At the current key rate, the maximum subsidy will be more than halved, from 7.25 to 3.25 p.p.", noted Kirill Chernovol.
He believes that with the current volume of preferential programs, potential savings to the federal budget could amount to approximately Rb 624 bn per year, but the final figures will depend on the parameters of specific programs and the volume of new loans issued.