The Ministry of Economic Development worsened the economic forecast for next year and reduced the estimate of the growth of real disposable income of Russians in 2019 by a factor of ten – from 1 to 0.1 percent. In addition, the estimate of GDP growth for 2020 was reduced from 2 to 1.7 percent, and the forecast for inflation from 3.8 to 3 percent. This is reported by RBC owned by Grigory Berezkin with reference to the materials of the department.The Ministry of Economic Development predicts a break in the credit cycle, which will lead to a sharp slowdown in consumer demand. The head of the department Maxim Oreshkin added that the situation with consumer lending is acquiring the features of a social problem, RIA Novosti reports. According to Oreshkin, 15 percent of Russian borrowers spend more than 70 percent on income to pay debts. According to the estimates of the Ministry of Economic Development, consumer credit growth should be slowed down to 20 percent in 2019 and to 4 percent in 2020.Earlier on Monday, August 26, Russian President Vladimir Putin said that real Russian incomes are growing too slowly, even taking into account the increase in salaries. According to him, this fact cannot but cause concern. Putin also pointed to the unsatisfactory growth rate of the Russian economy and called on the government to find a solution for more sustainable and dynamic growth.