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Nabiullina Sees “Impressive” Russian Growth

RUSSIA
  • Russia’s list of sympathetic governments in Europe grew at the weekend on the election of Peter Pellegrini as President of Slovakia, adding to Prime Minister Fico’s pledge to normalize relations with Moscow.
  • Speaking this morning at a committee meeting on financial markets, CBR’s Nabiullina stated that the economy is continuing to show “impressive” levels of growth, however the labour markets remains a constraining factor for the economy – not tight monetary policy.
  • Following Macron’s supposed hawkish turn on Russian relations, the Russian ambassador to France said the comments posted a “serious strategic problem” for Moscow and again warned that French soldiers in Ukraine “could pose a threat to themselves”.
  • Budget balance data released this morning showed a deficit of RUB 0.61trl for the January – March period.
  • Lavrov starts his two-day trip to China today, meeting with China’s Wang Yi.

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