(Finance) – According to the head of the monetary policy department of the Central Bank of Russia, Kirill Tremasovthe economy of the country led by Vladimir Putin is adapting fairly quickly to the changing conditions it is facing, following the invasion of Ukraine and the imposition of sanctions by the West.
“We have conducted a survey along April and May, and we see that the situation is improving slightly with each investigation – he said during a press conference, according to what was reported by the TASS agency – We ask companies various problematic aspects, including tariffs, what problems they have encountered, on demand, on employment and so on. And we see that since April the balance of responses on all these elements has been gradually improving, which means that the Russian economy has begun to adapt to changing conditions quite quickly so far“.
“Despite the changes taking place in our economy, the monetary policy objectives and principles remain unchanged – he added – Price stability remains a priority. “The Bank of Russia expects GDP to contract by 8-10% in 2022, by 0-3% in 2023 and growing by 2.5-3.5% in 2024.