„These are just some kind of “information ducks,” by the way, quite silly ones. Why? Because even in 2022, when people became somewhat anxious about known events and many depositors went to banks to withdraw their funds, even then our banks issued everything depositors demanded in a completely calm working mode. And then it all quickly ended and the money returned,” he said, answering a question about the prospects of Russian residents’ savings and concerns about a possible deposit freeze.
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V. Putin also explained the growth of deposits – according to him, this is related to high bank interest rates, writes “The Moscow Times.”
“Interest rates are high, people bring money to banks, that’s all. Interest rates will be lower, the situation will change, as will the participants in economic activity,” he said.
At the same time, V. Putin emphasized that despite the current economic difficulties, the Russian economy, in his assessment, allegedly remains stable.
“The most important thing, I want to emphasize this, I have already said it, the Russian economy is completely stable, the situation is completely stable,” he said.
Why rumors about deposit freezing arose
Rumors about a possible deposit freeze appeared back in November 2024, when Andrey Zubets, director of the Social and Economic Research Institute of the Finance University subordinate to the Russian government, stated that the authorities might take such a step due to the threat of “crazy inflation” if residents, after the Russian central bank lowered the base interest rate, began to spend funds accumulated in deposits.
“Some huge amounts of money have accumulated in people’s accounts – tens of trillions of rubles. And the interest rate was decided to be lowered. It is understandable that people will simply go to withdraw this money and bring it to the market. Then crazy inflation will start in the market,” A. Zubets claimed.
Ziuganov proposed confiscation
In the summer of 2026, the leader of the Russian Communist Party, Gennady Zyuganov, proposed confiscating funds held by residents and businesses in banks to solve budget and economic problems, reminds “The Moscow Times.”
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“There are 67 trillion of your money lying in banks today. 67 trillion and 63 trillion of company funds. A total of 130 trillion. That’s three state budgets. It lies there and enriches bankers,” he noted.
According to the communist leader, about 30 trillion rubles could be “immediately found.”
“They are not invested in production or anywhere else – not even in victory. This problem can be solved quickly. If I were president, I would solve it with one decree, under wartime conditions he has such a right, he is the supreme commander of the armed forces,” added G. Zyuganov.
Russia borrowed almost 10 billion euros from banks in one day
15min reminds that the Russian Ministry of Finance, after a one and a half month break, returned to distributing government bonds to cover the budget deficit.
At an auction held on Wednesday, the ministry sold floating coupon federal loan bonds worth 1 trillion rubles (almost 10 billion euros). Bonds with a redemption date in 2042 were all sold, and demand exceeded the distribution volume by 1.4 times – 1.424 trillion rubles.
Ordered to reduce the number of officials by 15%
While preparing this year’s budget, the Russian Ministry of Finance hoped to reduce last year’s deficit by 1.5 times – from 5.7 to 3.7 trillion rubles – by increasing VAT and taxes applied to small businesses. However, already in the first quarter, the “hole” exceeded the entire annual plan and, according to internal government calculations, could reach 9 trillion rubles by the end of the year, sources from the “Bloomberg” agency said.
According to them, since April the Russian government has reduced expenses for civilian budget lines by a third and also ordered a 15% reduction in staff positions of state agencies’ officials.
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