WHY IS THE STANDARD OF LIVING HIGHER IN THE USA AND EUROPE THAN IN RUSSIA.

Why did Germany and other countries of Western Europe and Japan after the war achieve a standard of living higher than in the USSR and higher now than in Russia?

1. In these countries there were no such huge expenditures on defense, on the creation of a nuclear missile shield, and in Germany and Japan there was no army or defense industry for a long time, and these are huge costs. The USSR, unlike these countries, was objectively forced to do this in order to survive.

2. The Marshall Plan worked - the United States helped with loans and equipment to quickly restore civilian industry, light industry, Agriculture and the sphere of household services for the population, which were quite developed and had not been completely destroyed before, as in the USSR. These countries existed in completely different historical conditions. At the same time, the United States only became richer and stronger.

Therefore, in Germany, taking into account hard work, law-abidingness and the availability of qualified personnel, a powerful automobile industry was built in a short time, and other sectors of the civil economy and infrastructure were quickly restored.

3. The USA, Germany, Japan and other developed countries have achieved high level life and tranquility in their countries only after they have adopted the principles of social justice and fair distribution of income from the socialist system ( differentiated tax) and introduced strict laws for tax evasion. The principle of J. J. Rousseau was introduced - the rich should share with the poor. There should not be too rich and too poor in society. Therefore, in Sweden N.S. Khrushchev said - we are building socialism, but they have already built it.

4. The USSR, destroyed to the ground during the years of revolutions and civil war, was forced to restore the economy and build statehood in the shortest possible time and under conditions of isolation and sanctions. Until 1924, the country was still fighting the Basmachis, and in 1939 there was Khalkhin Gol, then the Finnish War of 1939-1940, then the Second World War of 1941. Even in this short period of time, completely new sectors of the economy were created from scratch - the electric power industry , metallurgy, heavy and conventional engineering, aircraft manufacturing, tractor manufacturing, agriculture was rebuilt, new cities were built. The creation of an economy providing household services to the population was postponed until later. And then the war began.

Great Patriotic War disrupted all plans for creation and brought enormous material and human losses. The USSR, having suffered enormous destruction of everything in the European part of the country, was forced at this time to create a nuclear missile shield, spending huge amounts of money on defense. Therefore, the country took a very long time to emerge from devastation. However, industry was again restored as soon as possible and new sectors of the economy were created. A nuclear missile shield and astronautics were created. The USSR became the second economy in the world. The defense industry accounted for 75% of the total volume in the economy. But mass housing construction could only begin in 1958.

During the years of stagnation, the country developed, the oil and gas industries, electric power, nuclear industry, mechanical engineering, aircraft construction, shipbuilding and much more developed. But light industry and the consumer services sectors lagged behind world requirements; we never managed to rebuild them, although there were attempts, but they were ineffective. Fundamental changes were required in the sphere of everyday life (agriculture, light industry, etc.) - the gradual introduction of all forms of ownership with state support, but the government that existed at that time was incapable of this. We had bans on everything. It was impossible to earn more than the norm. Remember the covens, when engineering teams built cowsheds and other things, working 10-12 hours, and in order to receive the money they earned they had to sign up their acquaintances, because there were tariffs for everything. And so it is in everything.

We were two times behind developed countries in labor productivity. Therefore, we employed twice as many workers in similar industries, and therefore salaries were correspondingly lower. Therefore, there was no unemployment, there were no too rich, but there were no beggars either. This was the way it happened under these conditions, with in this capacity management and managers. Under these conditions, it was the inevitability that rules over everything (Thales), fate. There is no use in scolding and being indignant here. However, given the paucity of assortment in the stores, everyone’s refrigerators were filled, and the quality of the products was incomparably higher, no one went hungry, no one rummaged through garbage dumps. I must say that back then we read a lot of literature, and every family subscribed to newspapers and magazines. Society as a whole was much more educated and healthier. I'm not justifying anything, I'm just stating the facts. It was necessary to change the situation, but not in the same way as they did, for the sake of a narrow group of the population.

Compare what was done from 1985 to 2016. During these 30 years, nothing new was built, we use the baggage of the USSR, what the Soviet people created over these years and preserved at the same time Natural resources, which are now being used to enrich oligarchs and officials, in fact, there is a legalized robbery of the people's property. The worst thing is that the province is being destroyed, which at all times was the basis for the revival of the country.

All reforms resemble, and in fact are, actions to completely free the state from protecting the interests of the population. Rural medicine and education have been destroyed and become difficult to access, housing and communal services have become worse, and, in general, the social security of the population has become worse.

In the USSR there was fairness in the distribution of income and social life, although there were also tragic excesses in the struggle for power. But after Stalin, there were no leaders whose personality scale would meet the requirements of the time, the ability to change the political, ideological and economic situation so that it would lead to the effective development of the country, and not to stagnation and collapse. There were attempts to correct the situation; they tried to develop light industry and agriculture, but they failed. To understand why, it is enough to look and understand what our leaders and Politburo were like by this time. Unfortunately for us, the last leader, M.S. Gorbachev turned out to be a petty party apparatchik, but what was needed was a personality of Stalin’s caliber, a personality with wisdom, willpower and the ability to implement strategic plans.

The situation is the same now. V. Putin has strengthened the statehood, speaks patriotic speeches, but in the economy he pursues or allows the pursuit of a liberal policy that is destructive for the country, beneficial only to a narrow group of the population.

Under President V. Putin, the electric power industry was privatized, the disastrous liberal Gaidar-Chubais war continues economic policy, the corruption of business and government has become total, a huge number of banks, which are basically holes in offshore havens, a place for capital laundering and no benefit for the real economy. The overwhelming majority of capital is located offshore, the capital, real estate and families of the elite are located abroad, that is, in fact, Russia is turning into a colony of oligarchs and officials. All measures taken in the economy are half measures that do not solve the problem. Thank God that they managed to restore order in the defense and defense industry, and in foreign policy, except for Ukraine, everything is fine too. But with real economy and ideology is a complete failure.

Therefore, the population is increasingly turning to the personality of Stalin. His name is associated with the inevitability of punishment if a person is guilty and the effectiveness of management. No one approves or calls for unjustified repression, they have been condemned. But in order to effectively correct the situation in Russia now in compliance with the principles of justice and moral standards, justified repressions against corrupt officials in government and business are simply necessary. Will Putin be able to reconsider his liberal economic worldview, will the scale of his personality be enough for this - this is the main question. Or he will remain a statist liberal, when the state and personal power are strengthened, the oligarchs and officials are getting richer, and the population remains poor in what is still potentially the richest country.

The editors of TOLK tried to figure out why Sberbank European countries ah issues a mortgage at 3%.

Many Russian residents have seen photographs on the Internet showing branches of European banks, on which it is written about consumer loans from 5 to 7% per annum or mortgage from 1.5 to 2% per annum.

However, real anger appears among citizens when they see familiar Sberbank branches in some European country, where the rate is the same 3%. And here, of course, a question arises, which, if expressed culturally, will sound like this:

“Why then did I take out a mortgage at 11, 13, 15% per annum?”

The editors of TOLK are also very interested in this issue. Read about why in Europe and the USA it takes from three to ten years to pay off a mortgage, and in Russia from 10 to 30, and why there is such a big difference in percentages.

How many loans did Sberbank issue in the Altai Territory?

Deputy Manager Altai branch PJSC Sberbank Maxim Baukov told TOLK that in 2018 in the Altai Territory, Sberbank issued 13.1 thousand loans worth 16.6 billion rubles. For comparison, in 2017, about 9.5 thousand loans were issued, total amount which amounted to 11.3 billion rubles.

“We attribute this to the high technology of our services: registration procedures have been simplified, fewer documents and a minimum of actions are required in order to obtain a loan, the decision on which is made in a maximum of three days, but, as a rule, one is enough. In addition, electronic services allow you to reduce financial costs – for example, when applying for a loan online,” said Baukov.

Minimum interest rate in Russia

• Today, the minimum possible mortgage rate is 6% per annum. Such loans are issued under the program state support families with children born in 2018.
• Objects for which the developer is willing to participate in subsidizing the interest rate can be purchased at a rate of 8.5%.
• The minimum rate for finished housing is 10.2%. It is available to young families who receive wages to a Sberbank card, selected your property on the DomClick portal and used the electronic registration service.
• Also from this year there is a discount in case of registration mortgage loan with big down payment: if it is more than 20% of the cost of housing, then the rate will be lower.

Current mortgage interest rates in other countries:

• USA – from 2.5 to 7%
• Bulgaria – from 4.5 to 5%
• Cyprus – from 4%
• Finland – 1.4%
• Czech Republic – 2%
• Sweden – 1.85%
• Estonia – from 2 to 2.5%
• Poland – from 3.7 to 4%
• Netherlands – 2.5%
• Denmark – 2.2%

Despite the ability to pay off a mortgage quickly, people mostly take out a mortgage long term– from 10 to 30 years. Payments under these conditions become very comfortable.

Why does Sberbank have similar interest rates there?

Many are confident that if the mortgage interest rate at Sberbank in Russia were, for example, like in the Czech Republic, where it is 2.26% per annum, then lending would become affordable and this would help Russian economy. The answer is hidden in financial system a separate state. Sberbank branches abroad are included in the regulatory zone of the country in which they operate. They are not under the control of the Central Bank of Russia.

The activities of Sberbank of Russia, for example, in the Czech Republic are under the control of the European Central Bank. He has a branch of our bank and borrows money at the rate of the European regulator. The ECB rate is now 0.00%, the RF Central Bank rate is 7.75%. After the meeting on February 8, it will change.

What does the interest rate consist of?

To the ECB key rate any commercial Bank adds the costs of conducting its activities in the country, taking into account the level of inflation, which in the eurozone is approximately 1%. By the way, during the year the inflation rate, as well as the level of the main bank’s key rate, may be negative. In Russia, official inflation is 4-4.5%, although many economists question this figure.

Thus, we can come to the conclusion that European banks Only the costs of their work are included in the cost of the loan.

Who is to blame for the high rates in Russia?

Many will say it's about politics Central Bank Russia, which official inflation at 4.5% constantly increases the interest rate, but this is not entirely true. The main role is played by the course national currency. Indicators of the stability of the ruble on the stock exchange, the level of income of citizens and the pace of economic development are also taken into account.

According to experts, Russian banks do not have enough funds to set the same interest rate on mortgages as in European countries. No matter how much they want it, they don’t have such an opportunity yet.

Russian banks in Russia risk more

Rates are higher than in Europe, the USA, Japan, etc., due to lower and more volatile incomes of the population, which are caused by the devaluation of the ruble. Also, due to some of the highest macroeconomic and operational risks in the world, Russian banks use high bid as insurance against possible losses.

Russian banks abroad take less risk

Branches Russian bank in European countries they receive resources to support their activities from the regulator of the country where they are located and operate. The currency in European countries is more stable and stable, which cannot be said about the ruble. Obtaining resources in another country allows you to issue comfortable loans to local residents.

Maybe take out a mortgage over the hill?

If you receive a salary in rubles, then we can wish you good luck. Perhaps many of you have heard about people in Russia who, having foreign currency mortgages, found themselves in a terrible situation when, after the annexation of Crimea to Russia, the exchange rate of the dollar and euro began to grow at an accelerated pace.

If your salary is in dollars or another currency, then this option can be considered acceptable.

Why doesn’t the same Sberbank take resources from the Central Bank of a European country at 0.00 or 0.5% and start lending to Russians at a lower interest rate?

The main headache is the currency risks that the bank needs to take into account. Since he borrows in foreign currency, he will need to repay in foreign currency. In relations with residents of Russia, this carries double risks and is ineffective.

It is also a matter of Sberbank itself, which has been under sanctions from the European Union and the United States since August 2014. There is no point in taking doubly risks, because it is unknown how long he will be able to continue his activities in Europe.

What to do?

Most often, experts say that it is better not to take out a loan at all. For example, if we are talking about buying household appliances, it is easier to borrow from relatives or friends. However, few have such opportunities, so you have to carefully select the most favorable conditions from those offered.

The advice is the same with mortgages. There is no hope for a sharp reduction in the rate; most likely, it will continue to rise.

Businesses have the opportunity to subsidize interest rates, which often helps many entrepreneurs, but there is no point in comparing the level of comfort with European businessmen.

Surely many have heard that the largest bank in our country offers lower interest rates outside the Russian Federation. For example, in the Czech Republic, Sberbank offers a loan at 3 percent per annum, while in Russia the interest rate is 13 percent and higher. Not surprisingly, this news caused a huge wave of indignation among Russians. As a result, Sberbank managers had to explain why this was happening. Arguments on this matter were presented by First Deputy Chairman of the Board of Sberbank Lev Khasis.

How Sberbank explains the difference in rates

Sberbank has its pages in in social networks and channels on various Internet platforms. Any important news that concerns largest bank our country, almost never go unnoticed. The news that Sberbank offers enough profitable terms lending to citizens of European countries. A citizen of the Czech Republic or, for example, Croatia can receive a loan at an interest rate 4-5 times lower than a citizen of the Russian Federation.

This is how Sberbank commented on this situation.

Firstly, it is not exactly Sberbank that operates in these countries. That is, Sberbank CZ operates in the Czech Republic, which differs from Sberbank of Russia. And these two structures work in different countries with different economies. Secondly, our countries have different levels of inflation. If in the Czech Republic inflation over the past few years has been 1.5 percent, then in Russia it has averaged 7.2 percent over the past 5 years. And since the key rate is tied to the inflation rate, in the Czech Republic it is much lower and amounts to 1.75 percent, and in Russia the key rate is 7.25 percent. Those. almost 4 times higher.

Sberbank also gives an example that in reality there is not much difference. After all, a mortgage in the Czech Republic can be taken out at 3.3 percent, while in Russia the interest rate starts at 7.6 percent. That is, the difference is slightly more than 2 times. Another important argument of Sberbank is that income on deposits in Russia is higher. If in the Czech Republic you can earn only 1.8 percent per year on a deposit, then in Russia the deposit rate is 6.3 percent. And the last thing Sberbank draws attention to is that if the Russian economy is stable, like in the Czech Republic, then the rates will be exactly the same.

Has Sberbank said everything?

On the one hand, it is quite convincing. But all the same, Sberbank does not finish speaking. Everyone knows very well that Sberbank enjoys a dominant position in Russian market. And due to this, the bank receives quite a large profit. Most people keep their cash in Sberbank, and their salary cards quite popular. Thus, nothing prevents Sberbank from reducing loan rates and making them more affordable for our citizens.

For example, if you reduce the interest rate by at least 1.5 times, it will be much easier. Yes, Sberbank's profit will be lower, but the profit will still be significant. Let's take official figures as an example. For 2018 net profit Sberbank amounted to 831 billion rubles. And interest income on loans is about 2 trillion rubles. The calculation shows that the average interest rate is 10.5 percent.

If you reduce the interest rate to at least 7 percent, then interest income will decrease to 1.3 trillion rubles, i.e. approximately 700 billion rubles. But Sberbank will still be in profit, only the amount of profit will be 131 billion rubles. The question arises: why does Sberbank need such excess income?

But, apparently, due to the fact that more than 45 percent of Sberbank shares generally belong to non-residents of the Russian Federation, we can conclude that the main shareholders set themselves the goal of getting as much as possible more money. Moreover, it is difficult to imagine what amounts flow outside the Russian Federation. And citizens can only take out loans at the interest rates that are offered. In Russia, Sberbank is of great importance, especially in small cities and towns, but in Europe it is an ordinary bank that must fight for its place in the banking services market.

The promised “gifts” to the population from the President’s message to the Federal Assembly turned into specific instructions to the government. Putin instructed the Cabinet of Ministers and the Central Bank to take measures to reduce the mortgage rate to 8%, and for large families with children - up to 6%. Meanwhile, in Europe the average rate mortgage lending- 3%, and in Japan even 1.2% per annum. Experts told us about the reasons for this contrast with Russia.

Some of the recipients of state mercy are families with children, to whom Vladimir Putin promised new conditions for preferential mortgages, namely, a rate of 6% for the entire loan repayment period. In addition, the state will allocate 450 thousand rubles from its own pocket to large families with mortgages. The noble goal of helping young families with housing, in fact, immediately kills the second bird for the state - this is how it helps the stagnating construction industry.

Mortgages with state support were offered to families with children back in 2015. Then because economic problems The lending market sank, and the construction industry felt even worse: it became more profitable to buy secondary housing rather than apartments in new buildings. Since the state has always taken great care of builders (an important industry for the economy), it decided to stimulate demand among those who especially need housing and introduced a preferential rate of 12% for families with two or more children. Average rate per general conditions was much higher then. The idea was that the state would select the banks that would participate in the program and compensate them for the difference between the preferential and prime rates. The idea was a success: these preferential loans were in demand, borrowers received favorable conditions, and the construction market recovered.

The mortgage program with state support was in effect until 2017. From the beginning of 2018, they decided to revive it again until the end of 2022, but under different conditions. The preferential rate dropped to 6%; families with two children could receive it, but the subsidized rate for them was valid for only 3 years. For families with three children - 5 years. If a family took out a preferential mortgage and a third child appeared, then five years were added to the three years. Accordingly, the maximum validity period of the preferential rate was 8 years. At the same time, the average prime mortgage rate was about 10%. The state has budgeted expenses of 600 billion rubles to compensate banks for this difference. Preferential conditions Almost 580 thousand families took advantage.

What is the difference between the current scheme proposed by the president and the previous one? The main thing: subsidize the mortgage rate at 6% for the entire loan term. In his instructions, he ordered the development of specific amendments by March 25. It is not yet clear whether existing holders of preferential loans will be able to refinance under the new conditions, that is, for the entire term of the loan. Past conditions provided such an opportunity. I also wonder if it will spread preferential mortgage for the secondary? Most likely no. In past years, mortgage “discounts” were provided only for apartments in new buildings and only for those purchased from developers. A list of banks participating in the program should also appear. And the most important question: is the state really ready to compensate banks for lost income on mortgage loans, which many families take out not for 3 years or even 8, but for 15 - 25 years.

We asked experts to calculate how much the innovation from the presidential address could cost the budget. “If the state allocated 600 billion rubles for a maximum of 8 years of mortgage support, it turns out that in 1 year the expenditure on this project is 75 billion rubles. On average, Russians take out housing loans for 15 years. If the preferential rate is in effect throughout the entire mortgage repayment period, it could cost 1.125 trillion rubles for the country’s budget,” estimated Katya Frenkel, head of the analytical department of the FinIst company. According to the expert, the new conditions will be more profitable and will boost supply and demand by 2-3 times.

However, mortgage rates in Russia remain high, even for needy young families. For comparison: in Japan the percentage is housing loans does not exceed 1.2% per annum, in Switzerland - 1.4%, in the rest of Europe - 3%. "IN developed countries Mortgage fees are so low that there is no particular need to develop preferential instruments for certain categories,” explains Frenkel. “But there is a scheme similar to Russia in Uzbekistan: families with children are provided with a preferential rate of 7% for 5 years.”

Why are rates on housing loans so low in most developed countries, but in Russia they are many times higher? The fact is that mortgage rates, like any other rates on bank loans, are directly related to key rate, which is established by the Central Bank. Throughout 2017, the Russian regulator reduced the rate amid stabilization economic situation and low inflation, and in 2018 began to increase it - to today’s 7.75%. Following the Central Bank's decision, banks raised mortgage rates. Currently, the average mortgage rate is 9.6%. Putin proposed lowering this figure to 8%.

“Our country has had high inflation for a long time, and the Central Bank fought it in every possible way. In developed countries, after the mortgage crisis in 2008, inflation fell to zero, and even fell into deflation. It’s hard for a Russian to imagine, but business and the economy as a whole suffered because prices did not rise, but fell.

It was not profitable for entrepreneurs to keep an unprofitable business, since prices for goods were falling; it was more profitable to take all the capital to the bank and put it at at least some interest. To help many companies stay afloat, the US Federal Reserve, the ECB (European Central Bank), and the Bank of England decided to help their companies. How? Stimulate not deposits, but lending.

They lowered interest rates, in some cases to zero: now companies could take out cheap loans in such a difficult situation for rehabilitation after the crisis. Deposits became unprofitable for them: zero rate will not bring any income,” explained Katya Frenkel, head of the analytical department of FinIst.

Accordingly, in Europe and America, when business was rehabilitated, inflation stabilized after it. Mortgage rates automatically set to a low level. It would seem that this is not profitable for banks, but financial organizations in developed countries they earn differently: they get theirs due to the volume of demand, they can be paid extra construction companies, plus the less credit rate, the fewer delays and non-payments, the expert explains.

Note that mortgage loans in general loan portfolio occupy a significant niche - 43%. “At the same time, the average mortgage loan amount is about 2 million rubles in Russia as a whole,” notes the president of the National Association of Professional collection agencies Elman Mehdiev.

Having at your disposal statistics on housing loans, voiced by experts, it is easy to calculate mortgage calculator, how much will the “average” 15 years of repayment of the “average” 2 million loan at 6% per annum cost? Monthly payment will amount to almost 17 thousand rubles, and you will have to overpay on the loan 1 million 37 thousand rubles.