Nabiullina announced the time of strategic decisions for the Russian economy

According to her, during this period the Russian economy will be in dire need of financial resources, banks under the sanctions will also need support. The HEAD of the Central Bank warned that the coming quarters "will not be simple"

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For the Russian economy, it is necessary to develop strategic decisions, said Elvira Nabiullina, Chairman of the Bank of RUSSIA, at the congress of the Association of Banks of Russia, broadcast on its website.

“The time for tactical decisions is coming to an end and now we have to develop precisely strategic decisions,” the head of the Central Bank said.

According to her, after the introduction of Western sanctions, the first months were a time of tactical decisions, measures were aimed at combating the problems that arose, as they say, here and now. “As a result, we managed to protect financial stability and prevent the inflationary spiral from unwinding,” she said.

The Bank of Russia unscheduledly lowered the key rate to 11% Finance

“The economy is entering a period of structural transformation and will be in dire need of financial resources. At the same time, the banks themselves need support under the sanctions: this is capital, time, and greater flexibility to determine a new business model,” Nabiullina said.

According to the head of the regulator, "the coming quarters will not be simple." “As long as the economy adapts, it will be difficult for both companies and citizens,” she said. At the same time, the head of the regulator indicated that the process of structural transformation "will not be endless" and business will find new opportunities.

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The World Bank predicted a fall in the GDP of Russia and Ukraine Economics

In April, the chairman of the Central Bank said that the Russian economy could exist for some time thanks to reserves, and would enter a period of structural transformation in the second quarter or early third. Changes related to sanctions, which have already affected the financial market, will now begin to increasingly affect the economy, she said.

Prime Minister Mikhail Mishustin said in early April that the Russian economy needed "at least half a year" to rebuild "with such a blow."

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