Russian banks in February 2021 provided borrowers with mortgage loans for a total amount of 403.3 billion rubles, which is 55.4% more than in January (259.5 billion rubles), follows from the information on the website of the Central Bank of the Russian Federation.
The number of loans granted in February increased as compared to January by 52.5% (145.0 thousand versus 95.1 thousand).
The volume of mortgage loans provided in January-February 2021 amounted to 662.8 billion rubles, which is 45.2% more than in the same period in 2020 (456.5 billion rubles).
At the same time, the number of loans provided in the first two months of this year increased by 28.9% compared to January-February last year (240.0 thousand versus 186.3 thousand).
The aggregate portfolio of mortgage loans in January-February 2021 increased by 470.5 billion rubles, or 5.2%, to 9 trillion 556.8 billion rubles.
The weighted average rate on mortgage loans granted in rubles in February increased to 7.26% per annum from 7.23% in January.
The average size of one mortgage loan in February amounted to 2.782 million rubles, which is 1.9% more than in January. The annual growth rate of this indicator increased to 12.7% after 12.4% in January.
The World Bank has improved the forecast of GDP growth in Russia
The World Bank (WB) has improved its forecasts for GDP growth in Russia in 2021 and 2022. In comparison with the previous December forecast, they increased from 2.6% to 2.9% in 2021 and from 3% to 3.2% in 2022.
The country’s budget next year will be in surplus, the surplus will be up to 0.5% of GDP, according to the WB.
Bank analysts explain that among the reasons they raised their forecast for GDP growth in Russia, “a lower-than-expected GDP contraction in 2020 and a rapid easing of restrictions related to COVID-19.” These two factors “improved the growth dynamics” of the Russian economy.
At the same time, the WB noted that the forecast may be reduced with significant uncertainty, and economic recovery depends on the effectiveness of vaccines against coronavirus and the risk of new sanctions.