The Russians began to borrow from MFIs less money

Россияне стали брать в кредит у МФО меньше денег

In Russia decreased the size of the loan, which the citizens take in the Russian microfinance institutions (MFIs). For example, this year the credit was less than 3.9% and amounted to 12 thousand rubles. In Moscow this figure fell even more – by 5% to 15 640 rubles, reports RIA “Novosti” with reference to the MoneyMan.

The decrease in the average loan size in the market for several reasons. Primarily, this is due to the lack of income growth and the increased financial literacy of Russians.

We will remind, the Russian government two years ago began implementing the Ministry of Finance developed a “Strategy to improve financial literacy for the period up to 2023-go”. At the end of may, the Bank of Russia announced the beginning of work of the Association, which deals with this issue.

It is noted that the most common reason for treatment in the MFIs are unexpected expenses and the resulting “cash gap” because of wage arrears.

As revealed earlier, about 60% of Russians are experiencing difficulties with the repayment of Bank loans. The expert in the TV channel “MIR 24” said, the needs for which the Russians often borrow from banks.