Nabiullina: key risks for the Russian economy - the internal, rather than external
The head of the Central Bank of the Russian Federation Elvira Nabiullina considers crucial for the Russian economy risks internal rather than external.
"Key risks are still inside, I think for the Russian economy. However, external risks exist ... the uncertainty of global growth dynamics. It will exist, and we must be ready for this"- said Nabiullina at the Moscow Financial Forum on Friday.
The head of the Central Bank said that the dependence of the Russian economy on oil prices is gradually decreasing:
"The share of oil drops in GDP and export earnings, and revenues of the budget, but it remains important".
"If we talk about oil, by itself the oil market is probably now bears no such immediate risks ... By now our oil market groped the price range in which the balancing of supply and demand will take place here in this region as a whole, yes, there will be some volatility, but most likely it will say so in the expected range, as we have seen in recent times".
Nabiullina added that the state of the Chinese economy is "serious factor".
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