Russians' cash savings will depreciate by almost half in five yearsStoring savings in cash is not just an outdated method, but also a method that is losing its relevance amid economic instability, economists say.
A quarter of Russians still keep a significant portion of their savings in cash, which is a money-losing approach. At the same time, banks give 20% per annum on deposits. That is, at this rate, this part of the savings will depreciate by about half in five years.
Earlier, Deputy Head of the Ministry of Finance of the Russian Federation Alexey Moiseev urged Russians not to keep their savings in cash foreign currency. According to him, it is better to buy gold.
