Russian Central Bank deputy head outlines economic problems

Since 2000 the situation in Russia has been gradually improving, which has led to the macroeconomic stability, Russian Central Bank Deputy Chairperson Tatiana Paramonova declared at an international economic conference organized by RBC in Vienna, Austria.

At the same time, she admitted that the Russian banking sector, which was attracting investments, was not developed enough to have a considerable influence on "economic intermediation in the country". That is why the government and the Central Bank have worked out a program aimed at improving activities in the financial sector.

One of the main problems of Russia's economy is insufficient transparency of businesses, including banks, amid the stable macroeconomic situation, she believes.

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