“Tube Economy” Default
The lion’s share of credits allocated by banks to the population, is aimed at purchasing imported products and at stimulating economic growth of strategic competitors.
The lion’s share of credits allocated by banks to the population, is aimed at purchasing imported products and at stimulating economic growth of strategic competitors.
Implemented in recent years monetary and issuing policy of the Bank of Russia artificially stifles development of the domestic economy, destroys the remnants of science intensive industries, preserves the technological backwardness and strengthens Russia’s status of the “resource colony” and the end market for transnational capital.