In September, the Bank of Russia once again raised the key rate to 19 per cent of the annual rate. In doing so, the regulator allows for an increase in the key rate at an early meeting. But can the Jaroslav entrepreneurs influence the decision at the key rate? The manager of the Jaroslav branch of the Bank of Russia, Elena Burmistrow, is confident that they can, and that's good for business.

Can regional business influence the key stake?
In September, the Bank of Russia once again raised the key rate to 19 per cent of the annual rate. In doing so, the regulator allows for an increase in the key rate at an early meeting. But can the Jaroslav entrepreneurs influence the decision at the key rate? The manager of the Jaroslav branch of the Bank of Russia, Elena Burmistrow, is confident that they can, and that's good for business.

Regional business influences decision-making at key rates.
One week before each meeting of the Board of Directors, where a key decision is taken, the Bank of Russia publishes a special study on the Regional Economy. This document is on the table of the members of the Board of Directors of the Bank of Russia for decision on the key rate. The report describes key trends in the region ' s economy, as well as the general Russian and special regional factors, including in the Yaroslav region, which influence inflation processes. The report is posted on the bank ' s website and accessible to everyone.

Report " Regional economy " , a set of responses from thousands of enterprises.
The report is based on the compilation and analysis of a wide range of economic information available at the regional level, including expert opinions and surveys of non-financial enterprises, including from the Yaroslav region. This approach allows the Bank of Russia to complement official statistics on business, analysts, industry associations, and to provide emerging trends in the economies of the regions.

In total, more than 15,000 non-financial enterprises throughout the country participate in the project of the Bank of Russia. They provide operational information on the state of major economic sectors. These data reflect current and expected business changes based on production, demand, prices and other indicators. It takes time to collect statistical information. Moreover, such data come out with great time lags, and it is important for us to have a forward-looking indicator at a time when we make our proposals at a key rate. One such advance indicator is the survey of enterprises within the framework of the project of the Bank of Russia ' s Enterprises.

More than 200 Yugoslav enterprises are already involved in monitoring.
In the Jaroslava region, more than 220 enterprises participating in the project are involved. The Yaroslav monitoring players are a wide variety of sectors of the regional economy, and the industry ' s output corresponds to the region. For example, in the Yaroslav region, oil and engineering have historically more weight than mining or metallurgy.

Small and medium-sized enterprises also participate in monitoring. With some enterprises, the Bank of Russia has been working for over 20 years with someone to cooperate this year. By the way, the increase in the number of monitors makes the analyst more accurate.

Enterprises are requested to complete three questionnaires: market, investment and finance. The first allows an assessment of business activity and price expectations, the second is investment performance, the third is the financial position of the enterprise in advance of official statistics. As a result, we get information from the " place " of those people who are doing business here and now. These responses help the bank to create a more balanced picture of the state of the economy at a time, and thus to provide a more accurate forecast.

It's good for business to be involved in the survey.
The more balanced the analysis of the economy, including with the participation of the region ' s enterprises, the more balanced the forecast will allow for a more effective solution at the key rate.

Furthermore, monitoring participants regularly receive exclusive analytical materials based on the results of surveys in both their region and the country as a whole.

This analyst, according to business representatives, helps them quickly assess their position on the regional market and take forward action. Accordingly, the company receives important information for accurate planning, which increases efficiency and reduces costs.
In order to become a monitoring participant, the bank ' s Jaroslav branch should be contacted. Contacts, as well as detailed information on the project, are available on the website of the Bank of Russia under the heading " Monitoring of Enterprises " .

***

In the Yaroslav region, various assistance is provided to entrepreneurs through the Mala and Middle Entrepreneurship Project, as well as to industrial enterprises under the " Productivity " project and the " International Cooperation and Export " national project.

All support measures for small and medium-sized businesses can be accessed at mybiz 776.rf or at the " My Business " Centre at Sverdlov 25D. or by telephone from the My Business Centre: +7 (4852) 594-754.

Details of all support measures for industry and investors on the investing site