Structural changes are actively underway in the Russian economy. This was stated by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov at the SPIEF, according to the website of the Ministry of Economic Development.
The key growth constraints, he said, have not changed. This is primarily the labor market and low unemployment, which is also a guideline for the Bank of Russia when making decisions on the key interest rate. At the same time, investment support remains the most important issue.
"The contours of the new economic model are being traced. This is a stronger ruble than many would like. Higher interest rates because there are issues with the budget deficit — the Bank of Russia is responding to this, and it will take time to achieve the fiscal policy goals that we set, Mikhail Reshetnikov emphasized. - The outflow of capital is closed, and this, on the one hand, is good, because there is a resource inside the country, it will accumulate. On the other hand, it puts pressure on the foreign exchange market. This is the framework that has now been formed and in which we have to work."
