Russians don't need cheap mortgages, but affordable housing, Neviolina says. She said the impact of preferential mortgage programs was offset by rising real estate prices.
Additional statements:
GDP will increase by around 1% by the end of the year.
The central bank expects to reach its target inflation rate of 4% already next year.
Investments fell by 10%.
The current period of expensive loans is necessary for the future growth of the welfare of the citizens, despite all the accompanying difficulties.