How to Keep Your Money? Khazin Warns: Take Action by the End of the Year
Economist Mikhail Khazin advises that we should re-examine our savings preservation strategies in the near future, and make adjustments by the end of the year at the latest.
In a live broadcast on "Voice of Moscow" radio, Khazin stated that under the backdrop of rising inflation expectations, diversifying asset allocation is crucial - depositing funds into high-interest bank time deposits can help resist currency depreciation. Additionally, to ensure the stability of the investment portfolio, it is recommended to divide savings into three parts and invest them in different foreign currencies.
He emphasized particularly the importance of gold. Gold has always had the property of appreciation during crises, making it a reliable choice for preserving and increasing value. Khazin advised that it's best to develop a gold investment plan before the end of the year to maximize its stabilizing effect and safe-haven function.
Previously, it was reported that Russians hold extremely pessimistic views about the future economic outlook. This conclusion comes from a survey conducted by the All-Russian Center for Public Opinion Research (FOM) on inflation expectations, consumption, and savings willingness. Since the end of 2022, Russians' economic expectations have remained low. In light of this situation, how can ordinary people protect their savings? Economist Maxim Dovzhak provided an answer in an interview with "Tsargrad Newspaper."
This expert pointed out that the pessimism reflected in the survey is entirely in line with the objective reality - because no measures have been taken recently to improve the current economic situation. Dovzhak said that under the dual pressures of high interest rates and a weak national currency exchange rate, companies are facing a double dilemma: on one hand, companies need to pay annual interest rates of 20%-30% for loans, leading to continuously rising production costs; on the other hand, companies are unable to compete with imported goods from Turkey, Southeast Asian countries, and China.
In other words, Russia's current policies are squeezing the domestic market comprehensively - neither measures have been introduced to stimulate local production or create conditions for domestic products, but only relying on import substitution to fill the market gap.
At the same time, the situation of export enterprises is also very difficult. High interest rates lead to limited financing channels and high costs, while the problem of a weak national currency exchange rate also troubles the export industry. Currently, industries such as metallurgy, energy, and agriculture are facing difficulties: employees in these industries face pressure on salary growth, and companies are gradually increasing layoffs.
Original article: https://www.toutiao.com/article/7572075661880197683/
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