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On the other hand, in the first months after crisis economy saturation Money resulted from budgeted deficit financing. SuchIn the image, as a result of increase of level of liquidity in economy the bank
The system as a matter of fact has received free credit resources that in conditions
Absence of possibility of more favourable investment in financial tools Also promoted lower in comparison with the refinancing rate To percent for given credit resources.
Besides, the data of bank statistics testifies that volume
The rouble credits which have been given out to the enterprises, banks and physical persons in the beginning
1999, in nominal expression it was almost comparable with last year's Level (153 billion roubles against 151 billion roubles for April, first 1999 and 1998 it accordingly). At the same time, considering scales
Devaluations, the volume of credits in a foreign currency was a little reduced. The general
Volume of credits in a foreign currency, but in a rouble equivalent, approximately in
Three times were exceeded by last year's level (320 billion roubles against 107
Billions as of April, 1st 1999 and 1998 it accordingly). Follows To notice that more than half from volume of currency credits make credits
Term from one year till three years and credits with term of return over three
Years.
As the data about use and movement of credit resources No, an exact estimation of their volumes in real expression extremely
It is inconvenient. Anyhow, volume of the currency credits which have been given out
To not financial sector of economy in the beginning of 1999 it was almost equal
To volume of four-monthly import while one year ago this volume was It is equivalent to import during approximately two and a half months. Such
In the image, it is possible to assume that not all credits in a foreign currency
In 1999 were used for crediting of import operations (instructions The central bank, about additional deposition by legal bodies Means at realisation of export-import transactions for which it was possible To explain increase in volumes of crediting of not financial sector
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