In world trade, “tectonic” changes take place, this is a new significant risk that needs to be taken into account. This was announced by the head of the Bank of Russia Elvira Nabiullina, speaking in the State Duma (lower house of the Federal Assembly (parliament).
“It is still very difficult to judge where they will lead the world economy and how they will reflect on Russia. This is a new significant risk that we must take into account,” said the head of the Central Bank.
According to the press service of the State Duma of the Russian Federation, Elvira Nabiullina submitted the annual report of the Central Bank for 2024. The preliminary document was discussed in all fractions and specialized committees.
According to Nabiullina, the growth of the Russian economy this year will continue, but a more moderate pace.
“Although since 2023 there are fears that the increase in the key rate will undermine economic growth, it will come to recession, stagflation, mass bankruptcies and further on the list. Until now, these fears have not been confirmed. And the key rate fulfills the role of the Bank of Russia by law. It protects the stability of the ruble through the maintenance of price stability, supports the real income of citizens and the real income of citizens and creates conditions for a balanced economic growth.
stopping cross -border payments did not occur even against the background of numerous sanctions thanks to a healthy, debugged financial system, the head of the Bank of Russia said. “At the end of the year, sanctions were imposed on fifty of our banks serving foreign trade. Yes, I had to cope with difficulties, but they did not lead to a stop of cross -border payments. And all this would be impossible without a healthy, debugged financial system and flexible regulation,” she said.
Nabiullina said that the Bank of Russia simultaneously with the Ministry of Finance and the Government as a whole does everything to unlock foreign assets of Russian investors.
“and taking into account all the measures taken by the beginning of this year, about half of the assets of Russian citizens and companies that were blocked in 2022 were unlocked,” she said.
“and finishing, I will say about the tasks that Russia sets for this year. The first is a decrease in inflation. We are now perhaps in the most difficult part of this path, but we believe that next year we will go with the current inflation 4%. Why is moderate inflation? I repeat it again and again. This is moderate rates on long -term investments. And the main thing is a reliable – this is a reliable – this Protection of income and savings of citizens, the path to a decrease in poverty, ”added the head of the Central Bank.