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Post: Nabiullina explained the main problem of the Russian economy

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Governor of the Central Bank of the Russian Federation Elvira Nabiullina. Archive photo

Nabiullina called the labor shortage the main problem of the Russian economy

MOSCOW, November 9 – RIA Novosti. The main problem of the Russian economy is currently a labor shortage, Chairman of the Board of Directors of the Bank of Russia Elvira Nabiullina said at a joint meeting of the State Duma committees to consider the main directions of the regulator’s monetary policy in 2024-2026.

“And the main problem is not the lack of money, but the lack of labor. And by the way, we also see this in surveys of businesses,” the head of the Central Bank said.

Nabiullina noted that 13 thousand companies participated in the surveys conducted for the regulatory body. According to him, the Central Bank asks them about the problems in the main industries before every interest rate decision.

Unemployment in Russia has reached a record low of three percent in the last three months, according to Rosstat.

He also reminded that the Central Bank of Russia expects growth in loans to the corporate sector next year. At the same time, the head of the regulatory agency reminded that the Central Bank “is very important that the loans given to companies go first to structural restructuring (import substitution, technological sovereignty, etc.).”

According to him, the Central Bank has made arrangements to direct banks’ loan funds primarily to support economic growth.

Governor of the Central Bank of the Russian Federation Elvira Nabiullina - RIA Novosti, 1920, 09.11.2023

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Source: Ria

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