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Lending support programs introduced during pandemic are temporary, says Putin

The overall softening of the monetary policy should definitely contribute to confident passing through the crisis but should also bring the Russian banking sector to a qualitatively different state, the head of state noted.

MOSCOW, February 1. /TASS/. Lending support programs introduced during the coronavirus pandemic period can only be temporary, Russian President Vladimir Putin says on Monday.

"It is obvious anti-crisis extraordinary measures can certainly be only temporary by nature," the head of state says. "The effective period of lending support programs is also limited," Putin added.

"The overall softening of the monetary policy should definitely contribute to confident passing through the crisis but should also bring the Russian banking sector - and this has actually occurred already - to a qualitatively different state," the head of state noted. "This is indeed the proper required trend when borrowed money for expansion of production development and for creation of new jobs becomes more affordable," he added.

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