Politico's 'disrupter of the year' makes first comment about the status

Elvira Nabiullina responds to Politico calling her 'disrupter of the year'

Elvira Nabiullina, the Chair of the Central Bank of Russia, shared her thoughts on her 'disrupter of the year' status that she 'received' from Politico in November for her contribution to the Russian economy.

Nabiullina said that it was not easy for her to comment on the situation. She also said that the Central Bank would continue working to maintain stability of the financial sector.

"It's hard for me to comment, it's difficult. I believe that the Central Bank was running, is running and will continue running policies to ensure that high inflation does not depreciate income, that the financial sector remains stable so that it could preserve savings of our people and businesses and provide financial resources for the structural restructuring of our economy," Elvira Nabiullina said in an interview with RBC.

Russian economy is not ten feet tall now

Nabiullina believes that one should not have devil-may-care attitude about the Russian economy today.

The Russian economy has adapted itself quickly under the pressure of sanctions due to its market and business nature, she said. However, Nabiullina urged not to think that the Russian economy is ten feet tall now.

"We must be prepared as the sanctions pressure may grow. We managed to respond to biggest challenges, if we talk about the financial sector, but there are also problems in the financial sector that have not been fully resolved, including cross-border payments,” Nabiullina noted.

A decrease in confidence in the financial market is one of such problems, Elvira Nabiullina said.

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Author`s name Petr Ermilin
Editor Dmitry Sudakov