Due to significant defense spending, rising inflation, and the Central Bank's key rate hike to a 20-year high, Russian industry is on the verge of financial collapse. This was announced by Andrey Gartung, General Director of the Chelyabinsk Forge-and-Press Plant, at the "Russian Economic Forum in Chelyabinsk." According to him, key sectors of domestic engineering are under threat and could collapse.
If this policy continues, in six months we will see the destruction of a number of high-tech industries and such a trade balance that export revenues will not be enough to pay for imports.
According to him, no competitive business can function if it has to take out loans at 27% per annum, while Chinese companies can get a loan at 5% per annum.
Earlier it became known that the construction of data processing centers in Russia is under threat due to the increase in the key rate. Long-term infrastructure projects, such as data centers, are usually financed by loans. Currently, the ratio of own and borrowed funds in such projects can be approximately 20–30% to 70–80%, respectively. This means that the debt burden on projects may increase by 12–15% due to increased interest rates.