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Finance minister says companies’ profit in 2024 to total $527 bln

In some cases, borrowed funds are added to those investments, Anton Siluanov noted

MOSCOW, November 21. /TASS/. The companies’ own resources are becoming the main source of investment against the background of a high key rate, Russian Finance Minister Anton Siluanov said in an interview with Nailya Asker-Zade broadcast on the Rossiya-24 TV channel, adding that their overall profit is expected to rise to 53 trillion rubles ($527 bln) in 2024.

"We know that the bulk of investment is made using the companies’ own resources. By the way, total profits will rise this year as the companies’ profit is projected to reach 53 trillion rubles, which is higher than in the previous period. This is the main source of investment," he said.

In some cases, borrowed funds are added to those investments, the minister noted. "Companies’ stability remains at a fairly high level, and in this respect high rates of corporate lending do not subside so far despite high rates," he added.

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