Western anti-Russian sanctions, which were massively introduced in March last year, have had an extremely negative impact on the country’s economy.
This was stated by the head of the Central Bank of the Russian Federation, Elvira Nabiullina, during her speech in the State Duma, reports IA DEITA.RU with reference to TASS.
According to her, the effect of foreign restrictions turned out to be worse than all predictions about it. Nevertheless, as noted by the chairman of the Russian regulator, the country’s economy has successfully withstood the onslaught of the West.
One of the reasons why the restrictions imposed could cause significant damage to the Russian economy, Nabiullina called the impossibility of preparing for such an unprecedented wave of a wide variety of restrictions.
At the same time, she also pointed out that a margin of safety, due to the extremely balanced and thoughtful economic policy of all the past years, has helped the country to face the wave of sanctions.
It is this accumulated margin of safety that allowed the Russian authorities to take effective measures to counter the restrictions and ultimately maintain the required level of stability.
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