The Federation Council explained why there will be no general credit amnesty in Russia

The decision on a general credit amnesty will lead to a drop in state tax revenues due to the massive bank failure and, accordingly, to a reduction in social support programs for citizens. This was stated in a conversation with URA.RU by Deputy Chairman of the Federation Council Committee on Economic Policy, Senator from the Murmansk Region Konstantin Dolgov.

“Many people like this approach, but on the other hand, where are the compensation mechanisms? Banks and credit organizations are tax payers if they work in good faith within the legal framework. If they go bankrupt under such powerful pressure, then there will be a reduction in tax revenues. This, first of all, will hit social programs and citizens,” Konstantin Dolgov said.

The interlocutor of the agency recalled that people’s deposits remain in banks, which will be lost if a decision is made on a credit amnesty. “There are deposits of millions of our citizens in banks. Who will return later if there is a massive ruin? These are very serious things. A person will be forgiven two thousand rubles, and then he will lose much more. Everything must be calculated very well here, ”the politician specified.

Earlier it became known that in January-March 2023, the number of enforcement proceedings for the recovery of debts from individuals in favor of banks reached 14.4 million. This is 25% more than in the first quarter of 2022. The total amount of debts in these cases is about 2 trillion rubles. In October 2022, the leader of the Communist Party of the Russian Federation, Gennady Zyuganov, said that Russians should be freed from debts and a credit amnesty should be introduced in Russia.