Nabiullina announced the approach to the level of economic activity in 2021

The Russian economy is close to returning to the level of economic activity at the end of 2021, Elvira Nabiullina, Chairman of the Bank of Russia, made this statement during the IX All-Russian Congress of Financial Education Volunteers.

“Now our economy is already very close to returning to the level of economic activity that it was at the end of 2021. As we say, [чтобы] recover to your potential. Although the worst forecasts did not come true, this does not mean that the tests are over, ”- leads her words TASS.

According to her, now the Central Bank can devote more time not to prompt response to challenges, but to its long-term priorities. One of these priorities is the financial education of citizens, Nabiullina pointed out.

Speaking on June 15 at the St. Petersburg Economic Forum (SPIEF) Nabiullina statedthat today the Russian economy is developing according to the scenario of accelerated adaptation. According to the head of the regulator, the restructuring of the Russian economy is going faster than expected. At the same time, she noted that the negative forecasts did not materialize. The head of the Bank of Russia explained that this was facilitated by measures to support the government and the Central Bank, as well as “the adaptation of many thousands of our enterprises, which turned out to be very flexible and agile.”

Russian President Vladimir Putin speaking at the plenary session SPIEF June 16 informedthat the second quarter of 2022 turned out to be the most difficult for the Russian economy and business. “But today we can confidently say that the strategy chosen then by both the state and business worked,” he stressed. Putin recalled that in April this year, GDP grew by 3.3% in annual terms. The head of state said that by the end of the year GDP growth would be 1.5-2%, which would allow Russia to maintain its place among the world’s leading economies.

According to the president, Russia’s competitive advantage is a stable macroeconomic policy. The economy entered a new reality with record low unemployment (3.3%) and inflation lower than elsewhere in Europe. It is 2.9%.

Back in December last year, Putin declaredthat with the help of unprecedented sanctions, Western countries wanted to “crush” the Russian economy, but their calculations did not materialize. The head of state then explained the failure of the West’s plans by the composure of Russian entrepreneurs and authorities, as well as the solidarity of Russians. In January of this year, Putin said about overcoming economic risks.