War wages: Russians drown in overdue debts
russians are massively defaulting on their credit card debts: according to Forbes, payments on 8.3 million credit cards are more than three months overdue. This is the worst figure in recent years, and it continues to rise — just a year ago, there were 6.9 million such cards.
▫️ The total amount of overdue debt as of the end of May this year reached nearly 576 billion rubles — 150 billion more than in the same period last year.
People are failing to repay both old and new debts: in January, 2.35 million clients hadn’t made any credit card payments for over a month. Analysts predict that by the end of the first half of 2025, this number will rise to 3.84 million — a record high in this banking sector.
This is yet another sign that the russian economy is in a dead end. Astronomical war spending and sanctions are destroying not only the economy but also the lives of ordinary russians. Instead of a future – debt; instead of well-being – overdue payments. And as long as the war continues, the situation for russian citizens will only get worse.
