OREANDA-NEWS  Russia's monetary policy urgently needs to be eased, and the economy, which is not related to the military-industrial complex, also needs affordable borrowed money, said Boris Titov, special representative of the President of the Russian Federation for relations with international organizations to achieve the Sustainable Development Goals.

"Friends from the Institute of National Economic Forecasting of the Russian Academy of Sciences published a study of industrial and infrastructural enterprises conducted in April-May. The results are not very encouraging, but they are quite expected. A little less than half invest (a year ago it was 64%). 35% are preparing to launch new production facilities (it was 50%)," Titov said, as quoted by the press service.

"Loans for investments are affordable for only 32.5% (it was almost 40%), but the share of those who invested in development without relying on borrowed funds is also decreasing (a year ago, 24% reported a decrease in domestic investment, now it is almost twice as much – 43.7%)," the special representative of the president added. Russian Federation.

According to him, "the share of those who are concerned about the weakening of domestic demand has increased."
"If conditions are not changed, the problems will increase. Monetary policy needs to be eased urgently. The economy, which is not related to the defense industry, also needs affordable borrowed money. Yes, everything is clear why and why, but if you turn a blind eye to the problem, it will not disappear," Titov stressed.
"The conclusion. This year, we are rolling along the inertia set by the powerful impetus of the previous period. But the inertia of movement tends to end," concluded the special representative of the President of the Russian Federation.