As the occupiers are forced to admit, in 2022, Crimea overtook all regions of Russia itself in terms of the “growth of overdue debts”.
The dynamics of the growth of “average per capita overdue debt” in the Crimea amounted to 185 %, from 577 to 1600 rubles and in Sevastopol 197 %, from 443 to 1300 rubles, respectively. The total “portfolio of retail overdue debt” for the Crimea amounted to 3.1 billion rubles, and in Sevastopol – 687 million.
The sharp deterioration in the microfinance situation can be associated with a large-scale reduction in 2022 of “federal program support for the peninsula,” which was announced by the Kremlin on the eve of large-scale aggression.
Also, the front-line nature of the sanctioned occupied region began to contribute to the economic collapse.
However, in its decline, the Crimea is only “catching up” with the indicators of Russia itself, where “according to official statistics”, the average per capita outstanding debt in the spring of 2023 reached 7,600 rubles, and overdue retail debt accumulated more than 1.1 trillion rubles.
Among other things, this dynamic clearly emphasizes the impossibility of “growth of the economy” of the occupied peninsula, including by stimulating consumption.
