Nabiullina called the shortage of labor the main constraint to economic development. She compared the current economic situation to a cross-country marathon. The head of the Central Bank of the Russian Federation spoke on Wednesday at the regulator’s congress, where she highlighted Russia’s difficulties with access to technology and long-term investments.

Nabiullina described the shortage of labour as the main constraint to economic development.
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Elvira Nabiullina mentioned the main constraints, in her opinion, for the development of the Russian economy. The speech of the head of the Central Bank of the Russian Federation took place at the congress of the Bank of Russia, RBC reports.

According to Nabiullina, difficulties in accessing technology, long-term investments and labour shortages are key constraints for the Russian economy.

The head of the Central Bank called for a change in the approach to the economy, from “putting out fires” to thinking about how the country responds to long-term challenges. Structural changes in the economy cannot be responded to with ordinary anti-crisis measures, Nabiullina said.

The head of the Bank of Russia described the current situation of the Russian economy as a marathon, but on uneven ground and with obstacles. The country needs to calculate its strength in terms of how to handle the restrictions, Nabiullina stressed.


Kirill Bilyk

Source: RB

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