The Chairman of the Central Bank: adapting the Russian economy to external conditions will be painful and long


MOSCOW, October 23. The Russian economy will be painful long process of adaptation to external conditions, stated in the state Duma first Deputy Chairman of Bank of Russia Dmitry Tulin.

“We should expect increased volatility of the global commodity and financial markets and the unpredictable actions of the authorities of countries-economic leaders that will have a negative impact on the functioning of the Russian economy. It will be painful long process of adaptation and will build in the further development of domestic resources. A complicating factor is the preservation of high inflationary expectations,” he said.

At the same time, the CBR is confident in his ability to control the situation in any scenario of economic development, said Thulin. “We are confident in the ability to control the situation in any of the forecast scenarios, even not favorable,” said Thulin.

The Central Bank gives pessimistic forecast, oil prices significantly below $ 40/bbl, said Thulin.