Moscow. 4 Jan. The Banker magazine named Elvira Nabiullina as the best Central Bank Governor of the year in Europe.
A year earlier the best head of the Central Bank in the region by the Banker was the Bank of England Governor mark Carney.
Elvira always pointed to the need to reduce inflation, to improve the economic growth in Russia. The efforts of the head of the Central Bank led to the fact that the inflation rate in 2016 fell below 6% (according to Rosstat, inflation last year was 5.4%) from 12.9% in 2015, the newspaper notes. The log indicates that, according to the International monetary Fund, inflation in Russia’s recent history has never dropped below 6.1 percent.
“It is important that in 2016 marked a turning point in the mood of the population and market participants in part inflation expectations. In the beginning of 2016, the inflation expectations of market participants was above our inflation target (4% by the end of 2017), but now they approached the target and are at the level of 4,5-4,7%”, – said the publication of Elvira.
The Banker also noted the efforts of the Chairman of the Central Bank of the Russian Federation on improvement of the banking sector. Starting in 2014, the regulator has revoked the licenses of about 300 credit institutions.
In addition, the Bank of Russia jointly with the Ministry of Finance is working on the concept of the new pension system. “Pension funds have become the most important source of long-term resources for the Russian economy. We hope that the project will be adopted by Parliament in 2017”, – said Nabiullina.
The Banker is an English monthly specialized magazine devoted to international Finance. Publication produced in London.