Expert Shirov: Previous crises have hardened Russians, taught them to be rational
MOSCOW, November 28 – RIA Novosti. Alexander Shirov, Director of the Institute of Economic Forecasting of the Russian Academy of Sciences, told RIA Novosti that the economic crises that Russia has experienced in the last 25 years have softened its citizens and taught them to be rational.
“We are already ‘shredded rolls’, that is, I mean both the domestic business and the population of the country. After all, in the last 25 years, since 1998, this is already the fifth crisis for us. And not one of them, I Note, has not led to an economic collapse’ ‘ said.
“The crises have only hardened the Russians, they have changed their behavior, they have become more literate, rational,” he added.
The expert argues how much earlier there were conversations about the fact that the Russians did not always act rationally. “If you give them money, they will rush to buy foreign currency or, God forbid, they will turn to alcohol. But already in the crisis of 2008-2009, for example, if banks increase interest rates, it was clear that interest rates will rise. The population does not run to the store, but to a bank and deposits the money, thereby supporting the financial system of the country,” he said. .
“And when the government made one-time payments during the pandemic, do you know what people spent it on? Mainly according to statistics, on repairs and items for children, mostly products produced in our country.”
“So every action to support the income of the population leads to an increase in demand, which ultimately contributes to the development of the economy, this is 50% of GDP. population – the government needs to continue further, ”the director of the Institute of Economic Forecasting of the Russian Academy of Sciences concluded.
Read the full text of the interview at ria.ru on the RIA Novosti website (Russia Today media group) at 10:00 Moscow time on November 28.
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