The Russian economy can not survive indefinitely with its financial reserves and must be transformed in such a way that it can manage the impact τinternational sanctionssaid the head of the central bank of the country Elvira Nabiulina.
In her most important speech since Russia sent troops to Ukraine on February 24, Nabulina said it would take until 2024 for the return of inflation to the 4% target.
“The period during which the economy can live on stocks is certain. “And already in the second and third quarters we are entering a period of structural reform and the search for new business models,” he said.
The sanctions they had mainly affected the financial market, “but now they will start to affect the economy more and more,” he said. “The main problems will be related to restrictions on imports and foreign trade and in the future to restrictions on exports.”
She said that Russian companies you will need to adapt.
“Russian processing companies will need to look for new partners, logistics, or focus on producing products of previous generations,” the central banker said.
The exporters they will have to look for new partners and make arrangements at the logistics level and “all of this will take time,” Nambiulina said.
He also referred to a series of measures aimed at adjusting the economy. The central bank is considering making more flexible the sale of foreign exchange earned by exporting companies, she said, as well as issuing digital rubles so that Russians can trade digital wallets.
According to her, the pilot operations related to this project are planned for the second half of the year.
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