Flash crisis statement from the Central Bank of Russia: The biggest since the 90s

In the “Monetary Policy Report – May 2022” prepared by the Central Bank of Russia, evaluations regarding the Russian economy were included in the light of sanctions.

Pointing out that the sanctions imposed by Western countries on Russia are expected to continue until 2024, the report said, “Continuing uncertainties in general and restrictions on Russian exports will continue to keep prices in global commodity markets high.” assessment was included.

In the report, which included the view that Russia will continue to sell its main export products at discounted prices, it was stated that this situation would negatively affect Russian exports in terms of “value”.

While it is noted in the report that the Russian economy will adapt significantly to the sanctions by mid-2023, “The 2022 crisis is one of the most important challenges for the Russian economy since the 90s. The Russian government and the Russian Central Bank will support the structural change in the economy.” statement was included.

Pointing out that the falling volume of Russia in foreign trade will create new opportunities, the report shared the prediction that the share of trade in the domestic market will increase in the Russian economy.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button