Economist Alexey Mineyev cited evidence of unprofessional decisions recently made by the Chairman of the Bank of Russia Elvira Nabiullina:
“The Russians spent in the 1st quarter of 2021 for 0.60 trillion rubles. more than they earned in the 1st quarter of 2020, and they spent this 0.60 trillion rubles. due to decreased savings. Household savings in accounts decreased by 0.79 trillion rubles in the first quarter of 2021. (Based on materials in Banksta @banksta, checking the numbers in the original sources).
Thus, Nabiullina has already doubled the interest rate by 0.25% and then by 0.5% in the fight against supposedly inflation, which apparently is not driven by growing consumption. People are eating up savings! Consumption grew over the year by only 4.3% in nominal terms (that is, excluding inflation) - that is, if we take into account inflation of the order of this very value, we find that real consumption has decreased by the same amount! In fact, Nabiullina's increase in the interest rate, which means an increase in the cost of debt financing, and also a decrease in its availability, caused significant economic damage, slowing down investment and operating activity in industry and services, which in turn constitute the main source of income for the population, thereby hindering restoration of the country's economy and the welfare of the citizens of the Russian Federation.
Rosstat. Written in black and white on p. 193 in the section "Living standards of the population" of the bulletin of Rosstat of Russia "Socio-economic situation in Russia January - March 2021": the volume of monetary income of the population in the 1st quarter of 2021 amounted to 14.3 billion rubles, and expenses - 14.9 billion rubles. The difference is 0.60 trillion rubles. On page 207, you can see the data for 2019, and calculate the growth in nominal terms of household expenditures - + 4.3% to the 1st quarter of 2020.
The Central Bank of the Russian Federation (structure of the M2 monetary aggregate https://www.cbr.ru/vfs/statistics/ms/ms_m22.xlsx): from January 1 to April, 1, 2021, the decrease in transferable deposits of the population amounted to 262 billion rubles, while the decrease in other deposits amounted to 524 billion rubles. That is, the total savings of the population on accounts decreased by 787 billion rubles.
Moreover, Nabiullina should have questions about the 2.9 trillion rubles cashed. in 2020, since there are grounds to believe not by the population, but by a narrow group of people. Nabiullina saw this - the Central Bank of the Russian Federation monitors the banking sector, and did nothing..."