FT: Nabiullina seeks to declassify some of the data on the Russian economy

This is reported by the Financial Times, citing three sources. According to the newspaper, Nabiullina advocates the disclosure of economic information “so that investors can invest in securities.”

The publication notes that the opacity of the statistics also creates problems “for those inside the system.” It is reported that the biggest problem for the economy is the secrecy of the data of banks and public companies.

Following the start of the military operation in Ukraine, the Russian government classified some economic data to reduce the risks of sanctions, including information on gold and foreign exchange reserves and customs statistics.

The press secretary of the President of the Russian Federation, Dmitry Peskov, told the FT that the authorities are classifying the economic data due to the fact that “a hybrid war is being waged against Russia, including an economic war.”

At the same time, according to Peskov, “everyone who needs to know” has access to all the necessary information and statistics.

One of the interlocutors of the newspaper pointed out that, in matters of economy, Vladimir Putin relies on his inner circle, which “tells him what he wants to hear.”

“Any claim that [Путин] receives distorted information, it is incorrect. He has all the information, he holds economic cabinet meetings almost every week”, emphasized the presidential press secretary.