Interest rates on loans amount to 7-8% per annum

Such predictions made by the Ministry of Finance in 2013, however, lower interest rates on loans up to 7-8% per annum will be possible only when the fall in inflation to 4,5-5,5%. According to an official document published recently by the Ministry of Finance website ("Basic directions of budgetary policy for 2011 and the planned period 2012 and 2013."), Inflation is now around 6%. First and foremost, the department attributes this to falling consumer demand, and very weak recovery of the market lending. According to the Ministry of Economic Development, the growth rate of bank loans to companies expected to reach 13-15% in 2010 and more than 25% in 2013 In this first half year growth in lending to enterprises amounted to 2%. Businessmen with such predictions agree in principle. For example, the average minimum rate for Ruble loans for the industry amounted to 13,4% in July, according to Vedomosti, citing Institute of Gaydar. Moreover, it is cheaper just bankers lend to chemists (12.1% per annum) and metallurgy (13%), and more expensive - construction industry (15%) and light industry (15,2%). With regard to lending to small businesses, for entrepreneurs interest rates now are about 14-15% per annum. However, some economists pointed out that the stakes could be even lower than the projected 7-8%, if the authorities had carried out more stringent credit policy.