Nabiullina pointed out that the overheating of demand in the economy is close to exhaustion

The Central Bank (CB) does not observe signs of hypothermia in the economy, but the exhaustion of overheating demand in the Russian Federation is already close. This was stated on April 24 by the head of the regulator, Elvira Nabiullina, at a press conference following a meeting of the Board of Directors of the Bank of Russia, answering a question from Izvestia.

"This (risks of hypothermia of the economy. We don't see anything, but we believe that we are already close to a state where the overheating of demand has been exhausted. This gap is closing and it is important that it does not open again," Nabiullina said.

She added that it is now important for Russia to pursue a very careful monetary policy. According to her, the economy is rather at a point where production capabilities match the pace of demand growth.

Causes and consequences: Putin discussed with the Cabinet of Ministers and the Central Bank the negative dynamics in the economy

The President aimed the financial block at stimulating the growth of the industry and instructed to take measures to support business.

Alexey Zabotkin, Deputy Chairman of the Central Bank, said earlier in the day that there were no signs of economic hypothermia in Russia. He added that according to Rosstat, the dynamics of gross domestic product (GDP) in the first quarter is likely to be very different for the better from the figures of January-February.