The head of the Central Bank spoke about the main risk for the Russian economy.
Elvira Nabiullina spoke on this topic on Friday, September 13, during a press conference following a meeting of the Central Bank’s board of directors.
The key internal risk for the Russian economy is the depletion of production capacity and labor force, TASS reports.
This is a complex situation in which any additional stimulation of demand leads to higher prices without increasing production.
In addition, the issue of inflation is acute. The Central Bank admits that it will remain at a high level for a long time. It is possible that the 10% indicator will be exceeded.
This expectation will be reinforced by the likely increase in geopolitical pressure on Russia.
In addition, a slowdown in the world's leading economies could cause a drop in demand for raw materials.
This could impact Russian exports, which would affect the national currency.
On September 13, the Bank of Russia decided to raise the key rate. This happened less than two months after the last increase. Now the key rate is 19%.
Nabiullina did not rule out that in the foreseeable future it will be raised to 20%.
