The Accounting Chamber will check the work of the Central Bank

The Accounts Chamber will assess the impact of the Central Bank's key rate on the economy, budget and inflation. This was announced on March 20 by the head of the control body Boris Kovalchuk at a plenary session in the State Duma, where he presented the auditors' report for last year.

The main statements of the head of the Accounting Chamber

Over the past year and a half, from June 2023 to December 2024, the key rate has almost tripled, the head of the Accounting Chamber recalled. He stressed that this indicator affects the maintenance of the national debt, it will cost the Russian budget 3.2 trillion rubles, which is more than a trillion more than it was last year. In addition, each point of the key rate affects the subsidization of interest on preferential programs, including mortgage programs, Boris Kovalchuk emphasized.

He clarified that for the period 2021-2023, about 600-650 billion rubles were allocated from the budget to support preferential programs, and by the end of last year, more than 1 trillion rubles had already been transferred to finance mortgage loans. In 2025, about 1.25-1.3 trillion rubles are planned for these purposes. According to Boris Kovalchuk, preferential programs have had a serious impact on price dynamics.

— The audit plan of our department for 2025 includes an expert and analytical event. <...> Related to the analysis of the impact of changes in the key rate on inflation, linking these factors. This will be an expert-analytical event, because it is quite complex and there are many different points of view, maybe on these issues," he said.

The State Duma also instructed the Accounts Chamber of the Russian Federation to conduct an audit of the financial and economic activities of the Bank of Russia starting in 2022. The parliamentarians recommended that auditors monitor the implementation of the states