Package of economic measures may have inflationary consequences. However, the country’s central bank will be able to cope with this, thanks to an effective monetary policy. Deviations on inflation will be short-term and the indicator will return to the target level of 4 percent.
The Head of the Bank of Russia, Elvira Nabiullina, also touched upon the issue, which has been actively discussed recently. It was a budget rule. According to Nabiullina, it will be a very important contribution to macroeconomic stability. She emphasized that currently there are no significant risks that could have a negative impact on the Russian financial system.