The state, like a family, has its own budget - revenues and expenditures. If expenditures exceed revenues, there is a budget deficit. In the current year, the budget deficit is projected to grow almost threefold.
This may affect social programs, which may be revised; the availability of credit and mortgages will decrease (rates may increase and conditions may be tightened); and purchasing power may decrease. If inflation rises, less goods and services will be available for purchase for the same amount of money.
The expert in conversation with RIAMO noted that it is not necessary to take any radical action, but it is necessary to think about the financial stability of the family.
Volkova advises to form a safety cushion, plan the budget, choose reliable instruments for savings, and be careful about debts.
“A growing budget deficit is not an instant crisis, but rather a signal: the economy is facing certain difficulties. But the state has tools to stabilize the situation, and citizens have the opportunity to adapt to the changes reasonably and calmly,” Volkova concluded.
Earlier it was reported that in Russia will limit the amount of installments.