Siluanov urged Russians to invest in OFZ instead of cryptocurrency

Russian citizens should be more careful about investing in cryptocurrencies, said the head of the Russian Ministry of Finance Anton Siluanov during the online marathon "FinZoZH". He believes that investments in federal loan bonds (OFZ) are the most reliable way to protect savings from inflation.

Answering the question in which instruments it is most profitable to invest money at the moment, the minister said: “There are securities that give you the inflation rate plus a premium of about 2.0-2.5%. Don't guess. If the bank offers you, as a rule, the “inflation minus” deposit rate, that is, in real terms, your money will depreciate, then you can invest in OFZ and make good money, in any case, to maintain your portfolio.”

In addition, Mr. Siluanov noted that it is better to leave part of the savings on a deposit in a bank, another - to invest in bonds, and the third - in shares. At the same time, he urged citizens to be wary of cryptocurrency.

“If in stocks and securities, when you invest, you can at least assume that you can count on the dynamics of the movement of these assets, then nothing is clear in crypto. If you want to take a risk, you can have some share of your portfolio there, but definitely not more than 5–10%,” he added (quoted by TASS).

Today, November 24, the State Duma adopted law on the federal budget for 2023–2025. The document assumes a state budget deficit for all three years. Government borrowings will be the main source of deficit coverage.

The Ministry of Finance resumed placements on the borrowing market in October. According to the results of the five auction days held in October and November, the amount of funds raised by the Ministry of Finance amounted to 1.26 trillion rubles, which is eight times more than the quarterly plan. At the same time, on November 15, the department placed OFZs for a record over 820 billion rubles. The weighted average OFZ yield was 10.18% per annum.

More details - in the material "Kommersant" “Bonds go well for repo”.

Milena Kostereva

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