Interfax — Russia’s economy doing well but not out of the woods – Central Bank chief

It will take time to adapt the economy to the new conditions and restore sustainable growth, and this “will depend on the external environment changing but more than that on the rate of structural reform”, she said. The positive scenario would be larger processing and service sectors with higher productivity, while the negative scenario would be the oil price stabilizing and the economy retaining its old structure with low productivity and growth of 1 to 2 per cent. 

“Both scenarios are possible,” she said, but the Central Bank will use its monetary-policy and regulatory powers to encourage the positive one.

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Russia’s economy doing well but not out of the woods – Central Bank chief
Interfax