Russians have withdrawn over 2.5 trillion rubles from banks in six months amid growing distrust of the system - CPD
Kyiv • UNN
The volume of cash in circulation in Russia increased by 2.543 trillion rubles over six months. The CPD explains this by the loss of public trust in the state due to the war.
In russia, the rate of cash withdrawal from the banking system is growing: over the past six months, the volume of cash in circulation has increased by 2.543 trillion rubles. In July alone, this figure rose by 620.9 billion rubles, setting a new record. This was reported by the Center for Countering Disinformation of the National Security and Defense Council of Ukraine, writes UNN.
In russia, the pace of cash outflow from the banking system is accelerating. The volume of cash in circulation increased by 620.9 billion rubles (about $7.76 billion) in July alone, breaking previous records. In total, over the past six months, russians and businesses have withdrawn 2.543 trillion rubles (almost $31.79 billion) from banks
It is noted that at first glance, the reason may seem to be regular communication outages, which greatly complicate non-cash payments. However, the real reason is much deeper - it is about the loss of public trust in the state and its institutions.
Paper money in their pockets began to seem more reliable to russians than bank accounts. Against the backdrop of the kremlin's inadequacy, which ignores the collapse of the economy to continue the war, people are simply afraid to entrust their money to the state.
Despite all the kremlin's attempts to maintain the illusion of stability, the massive shift to cash demonstrates the main thing: russians are beginning to realize that the war is leading the russian economy into a dead end