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You have nowhere to fall. About the prospects for the economy, said the head of the Central Bank

Набиуллина: падать просто некуда. О перспективах экономики рассказала глава Центробанка

Reporting on the results of work of the Central Bank in 2019, Elvira Nabiullina told about the availability of resources for economic recovery, at least, the government and the Central Bank aims to return the economy to positive changes. To avoid the drop will fail, but in Russia the consequences will not be as significant as in other countries.

According to the head of the Central Bank, Russia has a lot of advantages – low inflation, the minimum level of debt, floating currency, a balanced budget, levers, reducing the country’s raw materials.

Nabiullina also told about measures on formation of citizens ‘ trust in the regulator of the country for the last time. The population of the Russian Federation no longer afraid of the inflationary shock that allows you to begin a gradual easing of monetary policy, and thus weakening the national currency. In the plans it is not excluded the next stage of reduction of the rate of the Central Bank.

In his speech on 23 June, Nabiullina said with confidence that the risks of “inflationary spiral” is missing, the devaluation of wages and savings will not occur, but inflation will be maintained in the area of the target at 4%.


What made Elvira?

The speech of the head of the regulator was dedicated to the report for the year 2019, however, to do without a sketch of the prospects for recovery postpandemic economy would be impossible.

Nothing new head of the Central Bank was not named, but summed up the events, giving their own assessment:


  • The fall in GDP, according to Nabiullina – “minus 4.6 per cent” for the year, but it’s better than in other countries (minus 7.5% in Europe and 5.9% in the US). However, the head of the Central Bank explained that the levels achieved before the fall of the advanced economies are quite different. Indeed, to fall from the hill is not so scary and painful than the rocks, but nevertheless, this fall.
  • The economic crisis will be less noticeable due to low inflation and other key indicators of financial-economic sphere.
  • Banks are ready to crisis and able to support the economy by providing cheap credit. For entrepreneurs in the banking sector has accumulated 5.6 trillion rubles.
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  • Measures are taken to revise the credit percentage, and primarily in mortgages for people with a target of 3%.
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    On the part of the deputies of the state Duma there were a lot of questions about the measures taken by the Central Bank on fraud prevention, in particular cyber fraud online, but Elvira wasn’t ready to answer.

    No less acute was the topic of the protection of depositors in case of bankruptcy of the financial institution. Head of the Central Bank reminded that 1.4 million of guaranteed return is a good amount compared to the time when insurance was not or she began with a symbolic sum of 100 thousand rubles.

    23 June 2020 – last preparedly Day, which was remembered by a succession of brilliant performances Nabiullina and Putin, assuring citizens in overcoming the problems of small and upcoming challenges.

    Perhaps the first person in our country really understand that in comparison with the period of the last five years, we have become accustomed to fall, the Russians have formed a reflex, falling, to be grouped together. Neither the rouble, nor the weak ruble has not impressed the audience, because all words R the prospects and growth we hear is not the first year, a little more.

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