Problems of loan population in Russia

Tatiana Kolmykova ,Nataliya Mashkina ,Oleg Valerievich Aseev ,Tatiana Svetovtseva

doi:10.1051/e3sconf/202015906001

Abstract

The article is devoted to the consideration of such a phenomenon as the debt load of the country’s population on the example of Russia. The term “debt” means the ratio between debt obligations and available income. Assessing the level of debt or, in other words, the debt burden of Russian citizens is relevant, because real disposable incomes have a rather long downward trend, and consumer unsecured lending is becoming more affordable, the amount of debt to Russians to creditors is increasing year by year, while the share of overdue liabilities, although not very large, still poses certain risks. This situation increases the level of debt to citizens, which poses serious challenges for the socio-economic development of the state, since excessive debt burden can lead to a crisis (as, for example, in the USA in 2008). Therefore, it is especially important to soberly assess the level of debt load and take appropriate measures in time to regulate it, in particular, to cool the consumer lending market as the most volatile segment of lending to individuals.

Highlights

Credit in modern conditions is of great importance for the socio-economic development of society
The article is devoted to the consideration of such a phenomenon as the debt load of the country's population on the example of Russia
Assessing the level of debt or, in other words, the debt burden of Russian citizens is relevant, because real disposable incomes have a rather long downward trend, and consumer unsecured lending is becoming more affordable, the amount of debt to Russians to creditors is increasing year by year, while the share of overdue liabilities, not very large, still poses certain risks. This situation increases the level of debt to citizens, which poses serious challenges for the socio-economic development of the state, since excessive debt burden can lead to a crisis

Summary

Introduction

Credit in modern conditions is of great importance for the socio-economic development of society. Lending to the population expands the boundaries of effective demand and contributes to the relative equalization of living standards, because It makes it possible to satisfy the current need, by acquiring the necessary goods or services, if the accumulation of savings is not completed or seems impossible due to the small amount of income. All this has favorable consequences for citizens, for business, and for the state. Often the difficult financial situation that has developed due to taking a loan forces a person to do it again in order to pay off the first debt or to provide himself with necessities, which indicates his falling into credit bondage [5]

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