... industry, and the prospects of international trade. This article summarizes the main points of his speech, highlighting the key messages that investors should consider in its aftermath. Accelerated Economic Growth and Inflation Reduction GDP and Economic ... ... countries. According to him, during the first four months of 2025, the country's GDP grew by 1.5% year-on-year, with growth rates accelerating to 1.9% in April. Moving Away from Resource Dependence: The head of state emphasized the qualitative changes ...

... was interest expenses on loans and bonds: in H1 2025, Gazprom paid interest amounting to about 261 billion rubles, which is ~17% higher than a year earlier (the rise in borrowing costs and increased debt load is partly attributed to the hike in the key interest rate and the currency debt revaluation). Additionally, exchange differences formed a significant portion of other expenses. The company likely maintains an excess of currency liabilities over assets in foreign currency; thus, the ruble's depreciation ...

... 2024 entail hefty fines and additional payments to the budget, totaling up to 95% of the asset value, effectively blocking most transactions involving foreign capital. Secondly, high financing costs diminish project attractiveness: the Bank of Russia's key rate has been raised to 21%, making loans expensive. Thirdly, the uncertainty in the economic situation (geopolitical risks, high sanctions costs, and ruble volatility) complicates revenue and cash flow forecasting for target companies, increasing expected ...

... contain hidden fees that make it less profitable. Calculate the monthly payment and assess whether your business can afford it. Also find out whether the rate is fixed or floating: a floating rate can change over time (for example, tied to the bank's key rate), which means both the possibility of reducing the overpayment and the risk of increasing it. Third, consider the presence or absence of collateral. Unsecured business loans are convenient because they do not require risking property and are processed ...

... sums to shareholders. Comparison with Last Year and Outlook for 2H2025 The previous year was characterized by lower rates, which restrained growth in interest income but allowed for minimal reserve expenses. In 2025, conversely, the sharp rise in the key rate (up to 21%) boosted the interest margin but necessitated increased provisions. Nevertheless, the bank navigated the expensive money period successfully, maintaining profit growth and asset quality. Now, following a decrease in the rate to 18% (July ...