During the discussions, Central Bank Governor Elvira Nabiullina said that problems in the economy cannot be solved by handing out «cheap» loans and urged those present to move on to finding systemic answers to the challenges.
The key problems of the Russian economy that limit GDP growth rates were discussed at the Central Bank Congress. The Kommersant newspaper writes about it.
The publication lists the current woes of the domestic economy. These are, first of all, labor shortage, limited resources for attracting investments, as well as difficulties with access to foreign technologies and equipment.
The economic processes in the country are not well affected by the insufficient level of labor productivity, the difficult demographic situation, and the open issue of protection of property rights. However, in recent years the difficulties affecting the GDP of the Russian Federation have increased.
During the discussions, Central Bank head Elvira Nabiullina said that the above problems cannot be solved by giving out "cheap" loans. She also urged those present to move on to finding systemic answers to long-term challenges, abandoning "putting out fires" caused by the start of special operations in Ukraine. According to her, the Russian economy today is facing structural changes, and it would be wrong to respond to them solely with anti-crisis measures.
Economist Alexei Zubets explained in a media interview why the World Bank recognized Russia as a high-income country.