Russians don't need a cheap mortgage, but affordable housing," Nabiolina. She said the impact of preferential mortgage programs was offset by rising real estate prices.
Additional statements:
By the end of the year, GDP will grow within 1%;.
The central bank expects to reach the inflation target of 4% 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 difficulties involved.